79 ford f150, 351m, blows ALOT of smoke?

ive got a 1972 Ford f-150 ranger, with a 351m V8 and a C6 trans. the truck has true dual exhaust, the truck blows alot of light gray to medium-dark gray smoke, depending on how hard you push the gas. a compression test was high and uniform in every cylinder, i replaced all the valve …

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