My 1986 560SL with 118,000 miles smokes briefly on take-off when hot. It's a whitish smoke and clears immediately once I accelerate. Is this something I should be worried about?

Also, there appears to be small transmission fluid leak. I'd like to avoid my dealer. What type of ATF is recommended for top offs?

I just bought the care a few months ago and aside from these problems -I'm very happy.