Thanks for the details on how you worked on fuel tank, etc. Now, it sounds like you are running good fuel instead a mix of old questionable stuff.
Myself, I would not pull the injectors. I would shore up the dip stick problem and then go run this car some in close proximity of home. Why? Because, no damage is going to come from having the timing off (this isn't like a gas engine). Additionally, if you drove it some, the pump and injectors would probably clean out some (run some atf--dexron or buy some stanadyne or a combo of both...put a little 2-stroke mix for lube) and the combustion chambers would clean out as well.
If this engine has been sitting for quite awhile (not being used), the rings will probably loosen up some and improve compression. If the engine is starting (cold starting) relatively easy (PLEASE no ether), it has adequate compression to run.
When you fire this up, does the overflow bottle start bubbling up within a couple or few minutes? Or does the little remote reservoir NOT run over until the engine gets good and warm?
I gotta tell you, I've been driving these cars since '79 and I don't really give two poops what the exhaust looks or don't look like. Unless, of course, if it is profusely "wrong." Until you run this and get the fuel components rinsed through with clean fuel and some conditioner or hillbilly conditioner (as above), I don't think you or anyone else knows what is what. I mean, if you start to pull out of the driveway and it can't pull itself....then ya, you got problems. That is what I think.
And, as far as the dipstick goes.....it is just leaking at the BASE of the dipstick or is the engine pumping oil all the way to the top of the tube? Myself, I NEVER use the annoying as he77 stock dipsticks. I use the shorter, stronger gasoline tubes and dip sticks. They are better and easier to live with. You just have to literally gently bend them forward to clear the fuel pump.
If the engine continues to produce profuse white smoke after running it, I might well suspect a timing problem or anti-freeze getting into the chambers. Did you put a straight-edge to that head when it was off? Well....there you go.
Added: these cars utilize a one-way valve in the fuel line right after it leaves the tank (on the way toward the engine). If you loose the pump prime after the car sits for a couple or more hours, you may well need to add a one-way to the fuel supply line. The stock is just a no-frills small valve.