Check your oil!

A hole in the vac pump diaphram will suck enourmous amounts of oil out of the crankcase, it won't always burn blue.

If you indeed have lots of unburned fuel, check compression (or at least the valve clearance), and check the chain -- if it is worn, both valve and injection timing will be late, and you will get both hard starts cold and lots of white smoke.

Does the smoke turn black with a hot engine and high load? If so, low compression for sure.

Peter

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1972 220D ?? miles
1988 300E 200,012
1987 300D Turbo killed 9/25/07, 275,000 miles
1985 Volvo 740 GLE Turobodiesel 218,000
1972 280 SE 4.5 165, 000 - It runs!