Ok I'm sure my 318 has issues now but not sure how serious. '74 Challenger, stock 318 2bbl. If it sits for more than a couple hours, I get a good amount of white colored smoke from the exhaust that clears by the time its warmed up. I know the carb is loading up some. I put a kit in it but I think the idle seats and screws are shot. Corrosion from years of neglect. The automatic choke seems to be working. It moves freely with good spring reaction on the pull off but questionable electrical contact on the board the wire from it connects to. When warm I still get smoke from the exhaust when revved but my friend says its blue. Looks white to me but I have never been able to distinguish this "blue" color people associate with an oil burner; always looks white to me. That beening said, we ran the car a few miles to my friend's garage to store it for the winter and stopped about midway. As my friend was following, I asked if it was still smoking because I didn't notice any. He said yes, a constant "blue" plume.
So after we got underway again I put some foot into it; enough to kick it down into low a couple times and when I did, the smoke was more of a dark brownish color. (like diesel smoke) I have always associated that with a build-up of carbon or poorly burning fuel. I wish I had some video but can any of you guys give me some guestamations? I'm thinking the initial smoke is a combination of over rich air fuel mix and bad oil seals on the valves. I just don't think there's enough miles on the engine for it to be bad guides or rings but it did sit for many years and was submerged for 3 days but drained and re started within a week or so. Sorry for the lengthy post but thanks for any input,
Scott
but nothing a good ol' 318 couldn't handle...except maybe the soaking 
One thing I forgot to mention, there is a spot of black soot on the driveway from warm-up where the exhaust points down (stock muffler with the short turned down tail pipe). Burnt oil? Way rich fuel mix? Thanks again Robert!