[SURTEESS]

Hey guys - had similar problem with mine a few months ago (it would puff grey smoke at initial stat-up only), I checked PCV valve & all the other standard issues... but to no avail, just could not put my finger on the issue.

Took it along to local agent who has always serviced it for past 10 years (hard to think that I have had it that long!!).

He suggested the Aux. air control valve was blocked or not working (this is a non-serviceable part - yeh right!!!). If you are standing in front of car then the AACV is located under the right inlet bank (header pipes) - look between 1st & second ones you will see a round tapered aluminium tube - it has a square base with 4 bolts attaching it to the block (also has 1 - 2way connector at taper end).

This operates an aux air supply when the engine is cold, operates on a 12 volt supply operating a bi-metal spring (plus the engine getting warm through the aluminium block casting).

When cold the tapered part is fully open, about the size of a NZ 5c piece (dime size) - as the spring & engine warm up then there is a sliding shutter that closes approx 80% off.

Sorry guys but my scanner has died last week - but those of you with 1992 service manuals look at book 2/3, section 2-1 (page 3) Emission control system & vacuum fitting, part 15.
Same drawing is also in section 2-7 (page 3) Fuel injection system, part 15.

Shown fully is in section 2-7 (page 5) AUXILIARY AIR CONTROL VALVE.

Mine was full of oil - he explained that this happens when the car is being used for short stop/start trips.

I got the old one back - soaked it in kero & tested it with 12v supply, works like new (so have a spare!!).

Good luck - from New Zealand.