86 spider help!

[Ccrelan@xxxxxxx]

My 86 graduate is in tough shape.  I posted recently that the car would idle
rough after being driven for a while.  This problem has continued.  The
exhaust has a chugging sound rather than a smooth pulse when warm.  Finally,
last night I took the car for a ride and it was running very hot.  The car ran
normal enough until I got back to my house. I was checking under the hood with
the car idling.  Before my own eyes I watched the exhaust manifold start
cracking- it had been welded previously......Then all of a sudden, the car
started spewing billows of white smoke out the tailpipe.  I am assuming the
head gasket is shot???  Hopefully someone could offer some advice if they have
had this problem.  Any ideas about prices to do the head gasket/ engine
rebuild/tear down would be helpful.....if it is worth it??? Thanks in advance.
Cory w/ sick 86 spider grad near NYC

------------------------------