ever heard of a game called Starscape?
check from 0:50 (that particles flying from off screen to the center).
I don't see any giant, 160 frame animations anywhere in this trailer.
That particle effect is made up of many copies of a couple different smaller smoke-puff sprites. They're being rotated, scaled, and faded. That's all. If that's what you're making, then you should do it the same way they're doing it.
If you look closely, the individual smoke pieces are not even animated. They're just one frame each.