Couldn't tell what color the smoke was but it did smell like oil.

I noticed some small drips of oil burning off hopefully it's just that.

The bike actually runs like new now but I think it might be running rich(due to the black spark plug I pulled out)

I was planning on putting a Jardine on it, would that lean it out enough to balance the air/fuel mixture or would I still have to upgrade the carb anyways?