Help! Think she's dying...

Yesterday, driving home. I did my normal 1st and 2nd gear pulls to 7500 RPM before leveling out an cruising. Difference was at ~6800 RPM in second, there was a sudden loss in power and a strange smell. No codes or alarms, all gauges clear.





I finished the drive home without issue, but stayed under 5500 RPM. Looked around the engine bay and the smell was gone and nothing out of sorts. Checked oil, looked normal.





Today when I went out to the car and started it, it sprang right to life, but created a large smoke cloud which was solid white and contained hardly any scent. The idle leveled out and the car drove fine.





I stopped and ran in a store, came back out and the care refused to start. Took several attempts before it finally started - again with a large smoke cloud. Car drove fine so I decided to make another pull. At ~6500 RPM the sudden lose of power returned and this time a smoke cloud in the rear view mirror.





Still no codes or gauges providing warning. Drove home the rest of the way under 5K without issue.





I am afraid a seal is letting go. Can anyone provide insight on this behavior?





Is is a 2004 GT with 88K miles.