Burnt Smell from Turbo Bay w/ occasional Smoke

My 05 Subaru LGT w/ 112,000 miles has been smelling like warm or burnt coolant after daily drives from the turbo bay. Occasionally up a 5% grade in town i get an even more perfuse odor of burnt coolant. Just recently i have noticed smoke coming from my turbo bay every now and then. I noticed a leaky hose going to the intercooler (Pic 1) and burnt coolant just below the leak. there also seems to be some discoloration, maybe a possible head gasket leak around the cylinder closest to passenger (Pic 2).

 

PIC 1

http://i291.photobucket.com/albums/ll287/pineyLGT805/4a013b77.jpg

 

PIC 2

http://i291.photobucket.com/albums/ll287/pineyLGT805/0-1.jpg

 

 

I just fired her up and let her warm up a little. Gave her some revs and a little bit of white smoke came out... I know white smoke is the tell all of head gasket replacements, but usually i've seen a lot of smoke not a little. Also the Engine Temp seems to stay normal and no codes or ECL's

 

Anyways, I may have my finger on the problem but a little reassurance from my fellow subie owners would be appreciated

white smoke out the exhaust may be just condensation, it's normal.

 

The oil smell could be a leaking valve cover gasket leaking.

white smoke and/or burning smell could be grease from CV boots hitting UP heatshield.

valve cover gasket and replace the clamp on that hose.