On your smoke issue... it is perfectly normal for it to puff a bit each time you change its speed. If it does so under constant load, then you should start looking at fuel injection components, air filter restriction, and such.
For good results, the engine must be loaded, must be properly broken-in with rings and valves sealing well.
For diagnostics regarding engine condition... 1.) How easily does it start up? 2.) Once warmed up, what amount of crankcase vacuum does it pull?
Injection timing would be suspect primarily if it were knocking or having trouble with starting up.
dieselgman