The computer froze, I saw a small stream of smoke
I dried out all of the hardware with a hair dryer and made sure everything was completely dry
As in taking out all of the cards and RAM and making sure all of the crevices in the slots were absolutely dry?
out. Inspect and blow out ALL of the slots, especially the RAM slots.
Start again from a very minimal construct. 1 RAM stick (in various slots), etc.
But once you let the magic smoke out, things don't look good.