<VV> a very happy corvair mechanic

[John Kepler]

The smoke is blowby from combustion getting past the piston rings

Actually, in an engine that has been sitting, the bulk of that "smoke" is
water!  In an air-cooled engine, you tend to get more condensate than a
water-pumper, and then have more of it vaporize faster when the engine is
started, giving you a fair amount of "emission" out of the crankcase when
the engine is first started.  Short version:  It's probably normal.  Drive
for a couple of hours and see if it persists or gets worse....if not
"fagidabadit!"...there's ALWAYS something coming out of that pipe (and most
of it continues to be water/condensate).

John