On a low mile, old car like that, things dry out and corrode. I would try rebuilding your carb, replacing your points in the distributer...a good tune up including replacing all filters, spark plugs and wires, distributer cap and rotor. CHANGE YOUR OIL after replacing your fuel pump. Gas could have gotten into the crank case.

Well, I thought I would chime in.
I have some thoughts on the valves. Be sure the push rod is in place top, and bottom. Then turn over the engine while you watch the rocker assembly. It should be easy to see if the lifter, push rod, and rocker are moving. I have never seen a cam lobe go completely flat (guess it could happen, just not seen it myself) but have seen the amount of lift reduced. Sounds to me like something is out of place. If you get the cylinder to fire the smoke may go away, or be less noticeable.

The other post about poor running after rain, has happened to me. Cheap plug wires were the cause in my case. Took my some time to find the first time. I took to buying a spare set of cheap wires as back up. I did finally buy a good set.

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Ross Rither
1964 Dart, 170
225, super six.

UPDATE:

After I found the pushrod sitting next to the #1 Intake rocker, I put it back in place and set everything back up...

Then I put the valve cover back on it and started it back up, only to hear a terrible racket coming from the engine after about 2 minutes of idling. I pulled the valve cover back off, and found #1 Intake pushrod bent at a 45º angle. So, I rotated the rocker out of the way, sprayed some PB Blaster on the valve stem and guide, and gave the valve a few sharp raps with a ball peen hammer. That valve was sticking closed, because the first couple hits didn't do anything, but after that you could hear the valve "tink" everytime you tapped it, and I could see the valve spring move.

I put in a new pushrod and buttoned it back up, and it now purrs like a kitten.

Just to be safe, I also gave the others a few shots of Blaster and a few raps with the hammer.

Thanks for all the help, guys!

Nick,
Happy and cruising...

Hooray!

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一期一会
Too many people who were born on third base actually believe they've hit a triple.