yo 90bronco86,
Bluish smoke hopefully is just the PCV sys; inspect PCV valve; make sure it is seated well and vac hose is attached and not leaking/replace PCV valve if old
Check compression
piston rings may be worn.
valve seals/Guides may be worn
also consider this;
Vacuum Supply Hose Rerouting in 86-93 5.0 Bronco, F Series & vans; MIESK5 NOTE; Include 5.8; Failure of the #8 piston or the #8 rod or rod bearing; "...Failure of the #8 piston or the #8 rod or rod bearing in Ford 5.0L, V-8 gas engines. Solution: During engine installation, reroute the PCV valve vacuum supply hose. Follow these steps: Plug the 3/8" (pipe) thread hole in the rear of the plenum where the PCV valve hose is connected. Drill and tap a 3/8" pipe thread hole in the center of the plenum and thread the PCV connector into it. Reconnect the PCV valve vacuum supply hose to the new location. Be sure the drain hole in the baffle is open. The baffle is under the PCV location in the valve cover. Installers who have rerouted the PCV system and opened the baffle drain hole have not reported any #8 cylinder failures..."
Source: by fourstarengines.com via web.archive.org @
http://web.archive.org/web/20061 025155759/http://www.fourstarengines.com/techtips3.htm
after clicking on url above, in bottom right corner of site, click Impatient?
Location & Hose Routing Diagrams in 5.0 & 5.8
PCV valve is next to the passenger side valve cover below the intake plenum.
Vacuum Supply Hose Rerouting Video in an 86 5.0
Source: by JKossarides ("The Bronco", Jean) at
http://www.supermotors.net/registry/media/742778
Info & pic, 1 port vs. 2 port for 5.0; "...That's a genuine Ford PCV valve. It's stock two port top (top of pic); makes it difficult to fit under the upper intake on an EFI 5.0 engine. Buy an aftermarket single port(lower in pic) and use the top on the Ford PCV..." miesk5 Note, often the rubber cap on the top port pops off
Source: by Sixlitre (Malcolm H, Eddie Bauer) at SuperMotors.net
White smoke;
since the smoke does not disappear after it was warmed up;
Auto tranny fluid may be entering the intake manifold through a bad vacuum modulator (if it is a C6); pull vac line from modulator, if tranny fluid is present, replace mod.
Cylinder head gasket(s) may be bad
Cylinder head(s) may be warped or cracked
engine block may be cracked