White smoke often means coolant leaking into the combustion chamber. But if the smoke smells of diesel then it's unburnt fuel which may mean that your timing is off (possibly retarded). If it's not coolant and not timing then IIRC you can reduce smoke by adjusting the screw in the top of the boost compensator (or aneroid). There is a very good write-up on fuel adjustments to the VE pump done by a guy in your neck of the woods which may help.


 
				
				
				
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