Hi all,
I've recently acquired a 1984 300D Turbodiesel, and it's been driving rather well for the most part. I've been poking around the engine bay and--as a complete mechanical novice--have a few questions. I've been obsessively reading up on these cars and this forum has been an invaluable resource!

Checking the dipstick, it seems like I have a little too much oil. How much of an excess (volume-wise) does this represent? Is it something that should be rectified immediately?

Checking the coolant. Is a clear green color correct for the coolant?

What is this, and is it OK for it to be detached? At first I thought that it looked like the primary fuel filter (!), but then checked near the fuel pump:

Primary filter is there. Needs to be replaced, along with the hand-primer and some of the fuel lines.
I've been noticing a bit of white smoke at idle (dissipates once the car starts driving). Planning on doing a valve adjustment soon, as well as changing the fuel filters and flexible hoses. Hopefully that should get things running better!