Vintage Cars: 1983 380sl, transmission vacuum modulator, vacuum leaks

Question
My 83sl all of a sudden started smoking white smoke. The oil has no signs of water in it, the water level has not decreased,  nor does the engine run with any hint of a skip. Is it possible for a vaccuum line to be feeding the engine with transmission fluid in any way. The smoke has no sweet smell, or any color at all and the engine run as close to perfect as ever. The car was not used much at all over thepast 8 years untill recently, and I'm thinking maybe a rubber part dried out ?

Answer
smoking all the time or just at startup?  If its all the time you could be running a little lean or perhaps your vacuum modulator is bad at the tranny and you are getting some tranny fluid into the exhust manifold ( through the vacuum connection) (mainfold to tranny).It is hard to say with certainty but the transmission vacuum modulator is a good place to start. After the vehicle sits overnight, loosen the vacuum line to the modulator to see if transmission fluid weeps out Also Vacuum leaks can cause all sorts of issues, look and make sure all your rubber connections are good and crack free.
Are you seeing the ATF level lowering?