Okay, picked up 2 quarts of fresh 10w30, and a suicide knob. Already installed the knob, doing the oil change Saturday. I'll check back in once the fresh oil is in the engine and see if the white smoke clears up.
Thank you guys for the help figuring this issue out!
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'70 107 with k301 engine swap
'71 106 with 38" deck
'70 147
R with factory replacement k321, 42" deck
'61 Original with 38" timed deck
'63 70 "pinkie"
1863 with 54" deck
'46 Farmall H, '50 Farmall Cub
105 x2 (parts)