I have been slowly restoring my 2.0 for about a year now and it has always smoked a lot and we figured out where the smoke was coming from, the valve cover gaskets were leaking and dripping oil onto the heat exchangers which started to smoke. we fixed the problem and they are no longer leaking but smoke is still coming from that area. whats the keeping me from being able to finish and drive my 914

A can of gunk.

Have you tried cleaning the heat exchangers? I had the same problem with the drippy valve covers (and who knows how long the PO let them drip like that) and there was so much dirt and oil caked onto the exchangers that i had to scrub them 3 or 4 times to get them to stop smoking when they got hot.

ill go try right now i have two or three cans in the garage

if that doesn't work, get a few cans of brake cleaner and spray the crap off ...

Andy