check the o2 sensor and clean the fuel system.disconnet the throttle body and clean.all the mean while disconnect the cables to reset the compters.change sparky's & wire's.pull your fuses and check for burnt ones. also check your wire harness ive found i three diffrent connector that where burnt up or melted. and a new one this weekend.(o2 senor).i also found that one of my fuel line was tapping my manifolds and it burnt thru the rubber sleeve.(taped it too and zipped it out of the way) check your throttle screw.
i had the same problem with smokeand all.i did all this and the smoke only went away when i cleaned the o2 and hooked it back up.i had to pry the plastic apart because it melted.clean and reconnect i wrapped it up in electro tape till this weekend when i pick up a new one.when i cleaned the o2 i notice i burnt like 50% less fuel than the day before.
my steering column makes a dry squeek too,410.
i went the long way check and change everything. and now im contemplating sending jamie(410) a ticket to come down and help me swap a 4.0.