Wow, sounds like you guys been burnin' that midnight oil! Are we close to figuring anything out? I had a question. In my experience, not to insult yours Irish, but doesn't white smoke mean coolant and blue means oil? Now here is just a suggestion, but the white smoke you saw when the car was started could probably have been condensation that was built up in your exhaust pipe, being that the car was sitting for a while. If not, I would say it's coolant. As far as timing is concerned, as Irish said before, the car was running, for 15 minutes! The timing isn't off. Even if it were a tooth of on the belt, which is more degrees than you can get by adjusting the CPS or calibrationg, the car would attempt to run, but die out. The first thing you should do in a no start situation is always check for spark and then fuel, in that order. You wouldn't want any fuel laying around a nice spark! Then you take it from there.
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'91 Turbo Targa 5 Spd.
'87 Corolla GT-S 5 Spd
'91 Accord Daily Driver 5 Spd
Soon to be rebuilt (All to some extent)
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