Smoke!

[Formeister@xxxxxxx]

To everyone who's "Been there, done that!" 

What are the consequences of inadvertently setting the ignition much too
retarded after an engine rebuild? 

Here's the story; engine out for a rebuild, new liners, pistons, rings, head
job, blah, blah, blah.  On the restart didn't want to glaze new liners/rings
so immediately (after checking for leaks and such) take it out to warm it up
gently.

Everything normal except for an inordinate amount of heat in my footwell.
Returned home immediately to find the headers almost glowing - thank God for
HPC!

Now, after resetting everything to specs, it was really warmed up, I find an
unusual smoking problem.  Doesn't do it on start up, going down hills under
extreme vacuum, or under high loads.  It only puts out a small noticeable
cloud after running at reduced load and Rpm for a period time and then floor
it.  Color of smoke seems to indicate oil, though hard to tell at present.

My question is, did something happen with the exhaust valve guides due to
extreme heat?  Compression on all four cylinders is ~220 psi. Not losing any
oil or water.  Spark plugs not showing any signs of oil fouling.  Pistons are
forged and set to recommended clearances with Deves Rings.

All speculations greatly appreciated especially on how to pinpoint the
culprit.

Thanks,

Frank Formeister

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