I think i have already asked this before, but I would rather repost and ask again.

Since ive owned the car (about and year and 25k miles ago) the car has smoked at high rpms when I give it full throttle. At low rpms and normal driving no smoke. idle no smoke. In first gear its just a quick cloud of black smoke, then in second, from about 4k to red line it smokes and after that its done.

Ive done a compression test only dry though. From when i bought the car till now. I have gottin the same figures. They seem normal. Slightly lower then spec. What else could it be?

I havint adjusted th valves since ive had the car, and i dont know when the last time actually was. Could that make a difference?

Basically how serious is black smoke?

I have always heard black smoke means head gasket.

I dont have oil in the coolent yet or anything serious like that. I am losing a fair amount of oil around the bell housing seal, when i will get fixed in the up coming weeks when i have the extra cash.

Any and all input/advice/knowledge will be greatly appreciated since i am still an amateur or better yet a rookie at this.

Thanks in advance