Could be rings, could be valve seals. Have you done a compression check or a leak down test? You don't indicate how it's running (bogging, stumbling, flat spots) so there's not much info to go on there.
It does sound like you've thrown money at problems without diagnosing the actual problem. Why were the rings replaced when head was off? Were the bores honed afterward? Did the pistons need actual replacement? Lots of info missing, lots of work done.
Does the exhaust blow smoke constantly, only when hot, or only under acceleration? A shot of the plugs? Are only 2/3 fouled and is it dry or wet fouling?