So occasionally when I start up my truck it has been sluggish until I hit the gas and "clear it out" for about 30 seconds. I never noticed smoke before but the other day it did it and a huge cloud of white smoke came out. I now have been paying attention and if I gun it I can get a little bit of smoke to come out. The oil doesn't really look "milky" but it is kinda grayish instead of black. That maybe because its not too old. I thought coolant must be getting into a cylinder or something so I did a compression check today and all cylinders seem OK. 125psi first crank then 150/165/170/175 then up to about 178 after 7 or 8 revolutions. The engine was rebuilt 3 years ago and I have about 5k miles on it. Of course it hasn't been an easy 5k since I have 4:10s and 36" tires and drive it on the road so the revs are always up there. A few more things: the oil cap always fill up with a foamy white substance whenever I open it up and all 4 plugs the central electrode was wore down to just a little point. They were properly gapped when installed 5k ago.