If it's your daily driver, has a lot of miles and you need quick turn-around, a crate or good used engine may be the quickest option, assuming they're available. If the miles are reasonable and you have a bit more time, try to determine the state of the rings with compression, leak-down or other tests. If those produce positive results, you may only need to do a top-end rebuild. Of the signs you mentioned, rebuilt heads and new lifters should eliminate the ticking and reduce the smoking and oil consumption caused by worn valve stem seals. Also, check the catalytic converter. The high oil consumption may have plugged it causing the loss of power.
Some on this site have swapped engines, but that's more time and complexity, especially if it necessitates upgrades of the engine wiring and management systems.