Smoke is normal during low RPM's. Mine is adjusted dead on... but if it's cold, or if I'm idling for a while... it will start to smoke. Heck... when I first put it in... it will fog out the dock. But, push the throttle a bit, and it clears up.
The TPS (Throttle Position Sensor) is on the starboard side of the throttle body.
The Temp sender in question is on the Port side head.