Oil coming out of air filter need help!!!!

[policeoff1]

I have a 96 4.6 liter ford t-bird. Well I started to notice a oil leak and found out it was coming from my cold air intake so i first thought is was the air valve the name excapes me now so i replaced it does nothing.

Well ppl said it could be my pistons rings. Well the car smokes alot now cause of the leak could this be the pistons rings are bad. plus does anyone know how much it would cost to replace plus what all should i replace sense the motor will be open?