Found the culprit, the number 4 cylinder push rod was bent. I seem to remember my old 52 chevy having the same problem 45 years ago. When the push rod would bend the motor would smoke like a freight train. Replace the bent push rod and the smoke went away. Put in a new push rod, adjusted the valves and it purrs like a kitten after sitting in a shop for 12 years. The carburetor needs rebuilt as it won't run without feeding gas by hand. Haven't checked the fuel pump pressure yet and it may also be bad but I am encouraged with the outcome so far. Keeping my fingers crossed....
