Have you checked for blowby. Usually the tube going to the air cleaner box will show oil vapor when running at the air cleaner box connection if removed and the air filter will have oil on it. Exactly what color is the smoke from the exhaust? If the returns holes in the cylinder head are clogged with sludge it may produce your symptoms.

 

Hope Alpine69 comes back to let know how it went.

 

Sorry guys, 3 kids and a wife spares little time...gonna take a peek tomorrow!

 

Ok, not really sure what I was checking for but with the air cleaner box removed I put my finger over the end of the tube and there is pressure coming out of it...wasn'y enough to leave any kind of residue on my finger after 10 seconds put it was definitely positive pressure. As for the color of the exhaust, I just can't accurately say what it is. To me, it is gray. What I noticed again though is that the initial 3-4 seconds is smoke free and then it starts to smoke heavily...also, there is smoke radiating from the entire exhaust system it seems...there is smoke wafting up from the front and the rear of the motor. Not a lot but enough to make me wonder about residual water or coolant in the exhaust system(pipes and convertor). I always thought that it took a while for the engine to heat up to operating temperature but now I am wondering if the same applies to exhaust temperature. I guess it stands to reason that the exhaust temperature coming out of the exhaust manifold would remain relatively constant reagardless of operating temperature seeing as the heat generated by combustion is somewhat static. Could all the smoke simply be the result of residual coolant/water remaining in the exhaust system? Seeing as the convertor is rusted on and I can't get the bolts loose and seeing as the destination of this vehicle is the track and losing the convertor is probably a good idea anyway, should I just cut it off and see if there is any effect? How much fluid, if any, might be in the convertor?
More ideas guys? Appreciate everything so far!

 

Residual coolant should burn off in a relative short period of time.

I really think that you have a warped or possibly cracked cylinder head that is allowing a little bit of coolant to enter a cylinder.

A leak-down test on each cylinder would verify what is going on.

 

With the 3-4 seconds it is smoke free, it may give you a compression test not reflecting the issues in the engine. On the blowby question you just remove the tube coming off the valve cover at either end and with that much smoke you should see an oil vapor while running. If it isn’t blowby you may have to take it apart again. I would get the head checked for cracks and warpage. You also should check the cylinders for damage. The cylinders can become egg shaped and will have dark areas in certain portions. The delay in smoke would seem to suggest something is expanding after warning up just enough to smoke and would be more likely coolant than oil. A warped cylinder head would fit. According to the machine shop that did the head on my 1995 Accord it is pretty standard to be warped. I believe the type of gasket Honda uses requires the head to be more true than other gasket types.

 

So, the majority is saying "pull that head back off!" Ok, that sucks but it must be done I guess. I will attempt to get to this this week...in the meantime I will welcome any other suggestions.