Also check your accelerator linkage, that could cause the slow problem (not getting full range of movement). Smoke could be bad fuel from the sounds of it.

__________________
1985 300D Turbo ~225k
2000 F350 (Powerstroke) 4X4, SWB, CC, SRW, 6spd ~148k
1999 International 4900, DT466e (250hp/660 ft/lbs), Allison MD3060 ~73k