I have a 91rs 305 auto, w/ chip, flowmaster exhaust and K&N on a TBI ram air setup. When I start my car in the morning I get a puff of white smoke. When I drive off it goes away. Then when I Idle at a light or in traffic I get another big puff when I take off. I have replaced the valve guide seals but its still puffing. Help Rings going?
White smoke would be water. Is your radiator still full? If you have a recovery tank look in it while the engine is running and see if the water in it appears to be boiling (blowing bubbles). --could be a head gasket/cracked head or block.
Also remove the oil fill cap and look at the underneth side --If there is a milky residue or if the oil is milky, you got a leak! Hopefully you just have moisture that condenses in your exhaust!! GOOD LUCK!!
My brother's (91 Montero) had that same symptom a few months ago and ended up being one head gasket. A pressure check to your cooling system, while the engine is cold, can verify that. Any pressure drop, not noticed thru the radiator core or leaking hoses, should tell you. An unusual water consuption also indicates that. Just my .02 cents.
as odd as this may seem,if it is in fact smoke(white),and not steam,i've seen auto tranny vacuum modulators go bad,allowing auto trans fluid to be sucked into manifold,producing white smoke.just a thought.