Smokey diesel .... why!!??

Hi folks,
I've just changed my Series 3 petrol LWB for a Series 3 diesel SWB.
It's my first diesel .... ever!
It's smokey, especially at startup but stays smokey pretty much during normal running too. Rather than me assuming engine fault, is there a good chance this could be the injectors, filter, pump??

It's an 2.25 1983 on 84,000 miles

Cheers.

valve stem seals/bore wear.

is the smoke white on start up or blue?

White normally unburnt fuel (unless head gasket failure)
Blue burnt oil.

Blue smoke on start up would suggest valve stem seals.

Blue smoke on overrun-bore wear

Yep thats pretty much it.
A bit of white or black smoke on start up for a 10 seconds or so is ok, as well as a bit of black when accelerating hard.
If you get white while driving then theres an issue with the pump or injectors, continous black while driving the pumps set up bad, someone fingerpoking, blue smoke while driving yer engines got issues, valve stem oil seals are not hard to do, but worn bores means yer engines needs an overhaul.
I suggest doing a copmpression test, that'll tell you if the bores are worn, do a comp test then pour a bit of oil in the cylinder then do another test, if the oil brings up the compression the bores are worn, if not if the valve guide seals.
If you get white smoke, put summat cold behind the exhaust, if the condensation smells/feels like diesel then its as before, if it feels like water and doesnt smell of much then it could be the head gasket, check the dipstick, if you've got mayo (a good sign but you dont allways get mayo with a duff gasket) then suspect the gasket.

Thanks guys!