Before getting carried away, maybe it just needs to be DRIVEN? Seriously, if it sits around all the time and you're only putting 2K on it a year, it's probably got a bunch of varnish, carbon, and other crap built up in the engine. Take it somewhere and get it nice and hot for a long drive, burn all the carbon out of the head and exhaust.

From the video, it appears that your smoke is black, not white like you'd expect with timing problems. It's possible that you have poor spray patterns on your injectors. If it's carbon buildup, a nice long hot drive can only do it some good. If you're running prehistoric injectors, it may be a good time to consider new nozzles.

__________________
Current stable:
1995 E320 157K (Nancy)
1983 500SL 125K (SLoL)

Gone but not forgotten:
1986 300SDL (RIP)
1991 350SD
1991 560SEL
1990 560SEL
1986 500SEL Euro (Rusted to nothing at 47K!)

Gone and wanting to forget:
1985 524TD 167K (TotalDumpster™) [Definitely NOT a Benz]