Here are the conditions before I noticed anything was wrong:

Oil level is fine.

Motor sounds and runs fine.

Tranmission level was above the two little dots after about 45 minutes of letting the engine cool and then turning it back on and going thru all the gears and then checking it. The fluid felt alittle warm, but not hot at all.

My starter seems to not be spaced correctly, so I have to turn the key a couple of times to get her to start.

At WOT I have been bouncing at the rev limiter atleast twice (sometimes more) before the gear will shift.

My last ride with the Z before anything went wrong was a spirited rolling race last night that started in 2nd gear - and involved a 75shot of n20. Again, my engine hit the rev limiter, but I did not have the juice engaged during that period.

SYMPTOMS AS OF THIS MORNING:

Car is cold, and the starter just kinda spins until it starts after the 4th try. (someone noted that it sounds like my starter isn't spaced correctly)

Car runs and idles fine, just alittle cold. I get on the highway within 3 minutes of starting the car and the shifter WILL move to the OD position, but over-drive DOES NOT engage. I move it back into D and then back into OD - same thing - overdrive will not engage.

At about 4 more minutes into the drive, we start to see and smell alittle bit of smoke coming thru our vents and heat coming from the shifter console. I pull off the highway and start to head back home - at the stop light, whitish/gray smoke is beginning to come from out of the hood on the passenger side.

When I get it home, I pop the hood and inspect where the smoke is coming from: it almost looks like it's coming directly off the engine, but looking closer it seems to be coming from the BACK of the engine, mostly on the passenger side.

Anyone wanna take a stab at this?? I'm kinda concerned.
Thanks Gang!

KASR

 

Intake Manifold leak? Might be leaking down on the bellhousing, block, etc and smokin' it up. Sounds like your OD may be shot as well. Might wanna get the front on ramps and get under there when it's cooled off and see if everything is oily. JMHO

 

Tonight, I jacked the car up and looked underneath, and there was tranny fluid all along the front of the engine and under the front of the tranny. I looked up top again and it looked like the fluid shot right out of the dipstick hole (btw, I have noticed every once in a while, that my tranny fluid dipsticks gets shot out of the snug fit...when I do notice it - I just push back in. Was this a warning sign?) Can the 4L60E not take the power???

Someone please help!?! Should I just take it in???

KASR