Advice needed!!! Smoke on one side of exhaust

Certainly sounds like a weak firing cylinder; a dribble out of one side of the carb ought to show up on both banks with that intake type. Just some more things to check:
- Check each spark plug wire for resistance end-to-end and see if one is much higher in resistance than the rest.
- Look at the valve lift on all cylinders as suggested. (Not always easy with hydraulics if they leak down any.)

What plugs do you have? Resistor or non-resistor?