smoking after layoff

I had the engine and trans. out of my '73 T MFI to replace the clutch. I didn't get it back running for about 2 months. Upon restart it has run well, smooth and powerful, but, it is smoking a ton! Help, any ideas about what 's going on? Is this temporary?

It should be temporary. You never said where the smoke was coming from. When you pulled the engine out did any oil leak onto the valve covers or heat exchanges? Some oil probably has to be burned off, regardless, but check the color of the smoke. If it is white, it could be the mixture or the spark plugs. If black, it could be perfectly normal, but it should not be wet. If you put your finger into the exhaust pipe and it is black and very wet check the compression in all cylinders. It does, however, happen in the early cars after being laid up for a while. Just drive it and you should be fine.

Marc- thanks for the comments. It's smoking out the exhaust. The good news is that in replacing one hose and 3 oil seals there are no, that's right, no leaks!!. Anyway, I decided to give it shot per your comments. I went out and drove through the hills behind Stanford U. for about 20 miles and the smoke level is down 95% already! Thanks again for helping me gut it out!!