@#$%&

PDA's SUCK !! Just typed up this whole post almost finished and it randomly restarted

Now i gotta type it all again! [end rant/start post]
anywhoooo......
So the other day i had a tinker with my new mini and i need a few bits of advice if anybody is able to help.
First off ill describe the car's running order as it was when i got it.
Engine seemed to run quite well, revved reasonable hard and didn't seem to struggle anywhere. Cruised VERY well and could accelerate from 100kmh no troubles. It idled very low and if it wasn't hot it would stall. It did also seem to struggle to pick up the revs from right down low.
It didnt seem to blow any smoke except for once wen i put my foot into it, wasnt all that much and colour seemed dark enough to not cause any concern.
It ran with a light misfire and would occasionally hesitate, and didn't like real heavy rain.
It has i think an abnormally loud whine and a very large slack so i think the diff is knackered. It also has a weird clunk but i haven't yet determined when it happens so im not sure if it's an internal or drive line wear or just the diff 'slapping' itself lol
B4 Christmas i had a fiddle to see if i could fix anything myself. I started by trying to pick up the idle, but couldn't find anything to adjust on the carbie, so i left it ftm. [is there a idle screw or did i just plain miss it?]
Next i went to the dizzy. The cap was very loose so i pulled it off and had a look underneath. Was pretty clean and i don't think the points looked worn, so i tightened the clips and put it back on. Nice and firm now so no wonder it didn't like the water. [ive got a new elec dizzy coming in so im not going to bother focusing on it for now, should have it by next week]
The misfire got me thinking the mech timing was a little out so i loosened it off. Now i don't have a timing light so i was just playing it by ear, but although its probs not perfect, idle picked up BIG time. I guesstimated a sweet spot and did it back up.
Now we're blowing smoke.... not exactly massive plumes but its white. The motor seems to like the timing better but it just for some reason strikes me as running rough. Its still got the light pop but its not carrying on and seems to be ok. I took it for a drive and its seems to drive well too, except now of course its idling wayy too high. Though i still had the feeling that somethings 'off'. I couldn't pick if i thought it was vibrating the whole car more either.
I got back under the bonnet and checked each cylinder was firing by pulling the lead off each one momentarily. All firing and all 4 appeared to have consistent reactions. I tried the dizzy again she persisted to run best where i had it, but i couldn't seem to even get it back to smokeless.
Ran outa time and had to leave it there.
Today i had another go, but this time i pulled all the plugs out. They didn't look great, sooted up a fair bit and some had on them what i can only describe to look like white mold. Cleaned them up with a wire wheel and the gaps seemed ok. They also look relatively new.
[As a habbit from racing karts i checked the end caps which were of course very loose or finger tight. One was almost completely off.
My advice to everyone, if you dont do it already, lightly crimp with pliers or side cutters, the spark plug end caps so they are on tight or you JUST WONT get good conductivity. ]
Plugs back in and fired up again, but no difference at all. One more time i tried the timing with exactly the same results.
So at the extent of my tuning car motor knowledge can anyone help me with the following....
Im really unsure atm but am i right in assuming that the development of white smoke specifically is particularly "bad" for the motor? [as apposed to being too rich or burning oil]
Is there a tuning remedy, or is the engine just plainly worn out and in need of a good and hard earned rebuild?
Is there a temporary fix for until i can pull the motor down?
And most importantly is anyone game enough to come and asses/diagnose my poor minis issues and their extent, or simply help rectify?
Thanks Everyone
Callin