1966 Mercury Monterey

well i kinda need some help on my car its a 1966 mercury monterey 390 2V. I looked in my chilton's and there is a system called the positive crankcase ventilation system (PVC) and there is a part called the idle compensator on it and after i run my car for alittle it smokes a little. My dad said it shouldnt be a big problem that it is just some sort of exhaust, and also i just got it running again but i was wondering if any body else had any advise.

I was also wondering for advise on another thing my car also makes a faint knocking noise while running i think it might be a loose rocker arm and i am going to check but i dont really know how to fix that either and i dont want to break something so if there is anybody who knows about this please help me out thank you very much.

same here but i have a 1961 monterey with 352 2v
sorry i cant help you maybe its the car but i am looking in to it let you know if i find it out ok good luck