Smoking near exhaust manifold

Hello everyone,
I recently purchased a 2000 Mustang GT 4.6L SOHC. It was sitting for a while, so I replaced the fuel pump and got it started. When I started it and ran it for about 2 minutes, It began to smoke very badly. It appears to be coming from the exhaust manifold area, but I'm not sure. At first I thought it was the heater hoses leaking onto the headers, but I made sure those were rerouted properly. Then I thought it might have been leaking coolant somewhere, so I ran a pressure test on it, but it exposed no leaks. I saw gunk on the headers themselves, but the smoke seems too excessive for it to be coming from residue. Unfortunately, I don't have anyone that can run the car as I get under it to inspect it further. If anyone has any suggestions, I would appreciate any input on guiding me. Thank you!

RaggedGT said:

I would guess it’s the gunk and some other debris,maybe wrap up all the ignition parts and wash the engine off

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I really hope so, but I already removed the valve covers and intake manifold to see what else could be wrong. now that I'm this far, I'm considering just getting the heads done. My concern is I get the heads done, clean everything, put it back together and all the sudden my block is cracked. Unfortunately, I wasn't able to do a leak down test, or block test before I started going ham and removing things. So . . decisions, decisions. Thanks for your input though; gave me a confidence boost.