If you want to eliminate the cyclone you could always disconnect the pipe from cyclone to intake pipe and route in into a catch bottle (also blank the intake pipe) and give it a try. If it still smokes then you know the cyclone isn't the main cause. You can also remove the pipe from the intercooler to intake manifold and give it a quick try (don't drive around as it will be like driving a NA (and you also won't have a working air filter). If it still smokes then it is an 'internal' oil leak (piston rings / valve guide seals), if it doesn't and the air from the intercooler is oily then it will be turbo or residual oil in the I/C