Hey I build turbo cars too and black smoke=fuel, too much of it I might add. Blue smoke=oil. White smoke=coolant/water.
Kidthunder if I were you, I'd get the ignition timing sorted out first. It is not hard if you know what you are doing. I can post a detailed procedure on how to find TDC and correctly install a CPS, but everytime I give out this info people don't care to use it or don't understand engine dynamics so they just ignore me. Let me know if you wanna correctly set your ignition timing yourself.
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