I'll put my money on the timing. When you put on a new belt did set the timing properly. Also you would have anti-freeze in your oil if the head gasket blew. Oil could also be coming out of the motor. Check fo leaks. Head gaskets aren't that easily repaired.

 

Sorry that I did not go into details last night. My back was killing me. It's between the head gasket or the head itself. The oil was thin as though it had mixed with the antifreeze, but it was not a milky color like I had anticipated. In the pan it was obvious that it had mixed. No obvious cracks or breaks in the gasket or the head but when it returns from the head shop I will update the post.