If no turbo you are not supplying sufficient oxygen to burn the extra fuel, hence the black smoke. Your diagnosis of the white smoke as extremely unburnt fuel makes sense to me. I would wait until the turbo is functioning as planned until attempting to dial everything in. With nonfunctioning turbo, keep an eye on the EGTs.
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1985 744 gle d24t
1985 745 gle d24t
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