Chevrolet Repair: 86 Chevy Caprice Classic, chevy caprice classic, valve cover gasket

Question
I have an 86 Chevy caprice Classic and it has been down for about 3 months now. The symptoms were that when its in park it will run alright but after you try to drive you can't get it to go over 20mph and a little smoke will be coming from the hood. I looked under the hood and i can see when you press the gas some oil and smoke coming off of the exhaust manifold on the drivers side. Somebody was saying the transmission has went out but wanted to get another opinion.  

Answer
That oil and smoke may just be a leaking valve cover gasket. Could also be gas leaking out of the carb.

But there are many things that could make it act like that, and without looking at it, there is no way to even guess from here.
I would suggest finding an older, almost retired mechanic, who worked on that age vehicle, and get him to look at it.

I had an 86 Monte Carlo, and it still had a carburetor. That is why I suggest finding the older fellow. The mechanics of today are more computer technicians, and want something to send them some codes.

I wouldn't just go condemning the transmission just yet.

Van