1981 300SD Excessive Exhaust Smoke

[usmma2013]

Hello all,
I have a 1981 300SD with 233k miles I have slowly been bringing back to ideal condition. Currently, I am trying to resolve an issue with excessive exhaust smoke. The smoke is grey in color and has no particular smell or taste other than typical diesel exhaust smell. At night , it is very visible in the headlights behind me when accelerating, cruising at 60+, and developing into a billowing cloud on heavy acceleration.
During the day, I can occasionally see wisps of smoked drifting by the car at idle but don't really see any while accelerating.
Thus far,
-Valve clearances adjust properly.
-New Timing chain and tensioner, original IP marks line up.
-Monarch nozzles 15k miles ago, balanced myself but only within 50 psi (perhaps an issue?)
-Turbo and wastegate verified working properly and producing boost within spec.
-Diesel Kleen with every tank, plus Diesel Purge every 3k miles or so.
-Fuel filters clean.

The car runs excellent idles smooth with plenty of power, but I cannot believe that nothing is wrong, no way a Mercedes smoked this much from the factory its very embarrassing driving at night...

I'm ordering some properly balanced #1930 injectors from Greazzer, but in the mean time any help appreciated!!