Smoking Exhauast!

Well here's another thread about a smoking exhaust. I've read all the other threads but cant really pinpoint the problem. I bought my 02 gt 5 speed used so I dont know exactly what all mods have been done to it, other than Flowmaster 40 and BBK O/R X pipe.
-The car seems to smoke after its warm quite a bit and when im sitting at a stop light also, only when im sitting still. Its a whitish smoke more than anything maybe a little bluish but very little.
-Also, my gas mileage is not so great either, I mean I get at best 23.5 mpg. Ive gotten 26 to 27 with my old 02 gt auto.
-The car has a really strong gasoline smell while its running mostly outside the car, very very little inside (or Ive just gotten use to it if it does smells inside the car), ive heard this is from the O/R pipe, but it worries because its pretty strong.
-My tailpipes have black residue caked up on them, you can take your finger and run it on the inside of them and get black residue off of them.

Ive read, worn ring, exhaust valve stem, seals, heads, cooland, fuel, etc....
Can anyone narrow this down for me a little more.

Any suggestions are really appreciated...
thanks again
 
Reply

It's your valve seals leaking,Mine are doing the samething right now and to do the job you need the OTC 7928 tool which allows you to change the seals without removing the Cams from the head,type in valve seal replacement in yahoo or google you'll get a couple of forums from crown vic sites the talk about doing the job and what tools you'll need.
 
If blue smoke is visible like you said, then valve seals are definitely a possibility. Black stuff caked on the exhaust means that you're running rich. How many miles are on the car? What part of NoVA are you in?