stangcobra

Hey guys, picked up my S14 today. SR20, t28, lots of good stuff like that.
Anyway after driving it home in a...spirited manner I made a right turn and the car died. I assumed it was the starter(been on its way out anyway) and so just gave the car a shake and it started right up.
Anyway got it home, it died again, tried to start it and noticed some smoke coming from the steering column and a burning smell under the hood, in the trunk, and in the cabin. Smelled like burning wires.
Anyway, any ideas as to what this could be? car wont crank but the headlights turn on, my boost gauge, turbo timer, and radio dont work. Car has the battery relocated to the trunk.
In advance this is my first 240 and I know absolutely nothing about them. help is greatly appreciated
Thanks