Symptoms would seem consistent with a bad AOS. The smoke from oil leaking into the intake manifold. The knocking from hydraulic locks in the cylinders, or possibly preignition. I would worry a lot more about the knocking than the smoke.
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2004 Boxster S Silver - FUNTOY
2002 Boxster Base Guardsy Red - FUNBOX
1987 Caterham Super 7 1700 Supersprint
2009 Mercedes Benz CLK 350 convertible
1941 Dodge Luxury Liner Coupe
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