What color is the smoke coming from the tail pipe? Pure white is steam, blue is oil burning, and black is running rich (too much gas getting in the engine)
Also, on the smoke from the engine area, is there quite a bit of oil mess around and over the exhaust manifold? Is that what is smoking once it gets hot or is it coming out around the manifold where the exhaust pipe hooks on? Does it start smoking near the engine immediately after starting or only after it gets well warmed up?
If it is white smoke and LOTS of it, then you are probably looking at a head gasket problem. Check the oil to make sure it is not getting milky from water getting in it, and check the coolant in the radiator for signs of any oil in it too.
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95 Isuzu Trooper Daily Driver
86 Isuzu Trooper reliable backup
77 LUV 2wd stock beltway blaster (resting)
79 4x4 LUV project: 2.6L, 5spd, 31s (eventually)
MEPR: Man, my 4x4 makes all other LUVs look good