273 Smoking When Cold....???

How many miles are on the motor? What oil weight is used? IS there any coolant in the oil? Just trying to get a bit more info before making a guess. I would probably say that the motor is a tad worn and the rings arent sealing like they once did. This will allow it to smoke a bit when cold, depending on severity.

Your milage could also be an effect of the worn motor, but dual exhaust and a electric ignition conversion kit will help out quite a bit. A tad more intial timing wouldnt hurt either. Make sure your carb is set up right. If you are mixed driving (hwy and city), average milage combined will still only be around 13-15 max, with 9-12 in the city and maybe 14-18 if all hwy. It all depends on the tune and condition of the motor.