I think that is just signs of an engine that is on the worn side. Eventually, it will have to be overhauled, in the meantime, try to warm it up more, or be lighter on the pedal so not to make so much smoke till it warms up. I tight engine shouldn't smoke much when cold.
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1976 Newell Classic (Sold)
Home Base: Riverside, CA
If anyone needs my contact info private message me and I will send it to you.
-Joseph-
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