Try putting the timing back and then forward from where you have it now. I didn't see where you tried changing the timing; just that it was correct as per label on the car fender or Bentley.
Make sure you have a clear line on the supply and return from the pump.
When you start it, are there any bubbles in the line? Air in the fuel will cause it to smoke white.
Does it smoke constantly? Just when cold? Just at low rpms? Just at high rpms?
Have you made sure the cold start lever was pushed in when you timed it?
It is NOT "too much or too little fuel". "Too much" fuel makes the engine accelerate. "Too little" makes it slow down. Neither one makes it smoke abnormally. All the accelerator pedal does is add more or less fuel.