Fox White smoke at 3000 RPM after oil change

Car was running fine before an oil change Saturday. I didn't do it myself as I don't have the space to do it right now. I just got the car a month ago and didn't know when the last oil change was so I figure I'd change it anyway. I got high milage 10w-30 synthetic put in. I noticed yesterday when accelerating and the car is about 2500-3000 rpm there was a rubber burning smell. I looked behind me to see a big white cloud of smoke. I didn't catch tire so I know it wasn't that (at least for the smell). I haven't noticed any loss of power, doesn't smoke if I don't get on it, and didn't smoke before the oil change that I noticed. I did add seafoam to the oil (before the change), gas, and intake system over 2 weeks ago, but would think most of it would be out of the car by now along with any stuff it kicked up and didn't smoke when I added the seafoam. I'm looking for advice, I will be checking stuff this afternoon after an appointment, pulling codes, checking fluids, looking for leaks or spills.

A little background:
88 GT with stock 5.0 (as far as I'm aware)
automatic
138,000 miles
Cats deleted and smog bypassed
Charcoal canister deleted
No codes prior to oil change (minus normal no cats and smog codes)
Oil pressure gauge jumps around but stays in the normal range (even changed the sender and cleaned the connector)
Not over heating, stock gauge stays about 180-200

90sickfox said:

Most ( non- mustang ) people don't know there are two drain plugs. They may have over filled it with oil.

Click to expand...

Did not know that! Thanks!

so yeah... there is way too much oil in there! Where the end of my towel is that’s where the oil stops on a cold engine. Guess I’m going to have to go back up there. Thanks for the info on the new 5.0s and the 2nd drain plug.

Potomus Pete said:

Cant see...How much more in inches

Click to expand...

It’s a good 2 inch or so above the full. Hopefully nothing else will come from it. It smoked at startup for the first time on the way back to the shop. Fingers crossed

I usually wouldn't but it's been a busy week and we don't have the space I had in our old house. Lesson learned I'll do it myself at my inlaws from now on.

Oil has been drained, rechecked dipstick, and is at the proper level. Runs better and pressure (I know the stock gauge sucks) is pretty constant. I didn't see any smoke but I didn't get on her on the way home. I did pull codes and didn't have any new ones (I always have 85,94 and 44). The coolant looks clean but I think I'm going to flush the system next week just because. I'm assuming the over-filled oil was the problem but I'll update in a few days when I drive the car more and get the guts to get on her again.