Smoking in the Morning and oil dripping on manifold.

I just brought at 87 B2200 w/ 169000 miles. In the morning I get alot white smoke when it first starts running. I let it run and warm up the smoke stops. Problem #2.
I just gave it a tune-up and I noticed oil dripping on the lower arm of the Ex-manifold. Could this be the cause of the white smoke? Could some oil be dripping into the Ex-manifold housing through this leak? Do I need to change the Ex-manifold gasket or worst the head gasket. There also signs of previous oil leaks from somewhere esle because some areas on the engine are cover w/ dirt and oil (lower eng. Block, trans, oil pan, a/c compressor). What did I get myself into??