S-10 Electrical Issues/Oil Entering Cumbustion Chamber

Hello all,
First time posting here...great newsgroup!
I have a 2001 Chevy s-10 pickup, 4 Cylinder 2200 SFI engine, ~153,000 miles.
I am having serious problems with my truck. Here are several symptoms
that all occurred near simultaneously:
1) When I first turn the key, the engine would turn but not sound "right". It's hard to describe...but the initial try sounded harsh - like a starter that doesn't engage the flywheel. The engine would engage on the second try.
2) There is a nasty electrical problem. If I turn the left signal, both the left and right rear directionals actuated. I also hear the fast clicking from the front directional.
3) When I tried to start the engine, I notice smoke come out of the throttle body.
4) After struggling with the truck for a day, the engine now doesn't start, the starter just spins.
I took off the air duct and you will see the oil in the air box just before the throttle body. You can see in the second pic where the smoke came out of the throttle bottle. There is also evidence of oil on the spark plug.
Pic 1 - http://picasaweb.google.com/lh/photo/xdmMNmZlfqry4EblqEf3b3EHjcAvCXimoCM7JxgdkUA?feat=directlink Pic 2 - http://picasaweb.google.com/100899362068850022594/Truck?authkey=Gv1sRgCJG7otCdiKjgpAE#5518017475943830226
Has anyone else had this problem? I think the big question is why oil is getting into the combustion chamber - and whether this is related to the electrical problem. Something has failed but I am not sure what. I should also note that I am pulling a P0420 (catalyst) error code - which is probably from oil junking up the 02 sensor. Any insight is greatly appreciated, TIA!
Tom
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Thank you Bill. Unfortunately, I have already tested the battery/alternator and both are working properly.
On Fri, 17 Sep 2010 20:22:28 -0700, "Bill"

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