I just bought a 94 LS400. The exhaust really smells strong. Is the car running rich, or do I have another problem. And how do I fix it.

 

most likely PS problem.

 

Does it do it even after warmed up? or just starting?

 

Sorry if this is obvious to everyone else, but what does PS mean?

 

He thinks that you are getting Power Steering Fluid ingested thru your intake manifold due to a bad valve at the Power Steering (or PS Pump) if you will.

This condition usually shows itself thru white smoke exiting the exhaust.

 

yea, thats pretty much it. the valve is called the Idle Air Control valve (or somethiin like that)

the white smoke will only appear when the car is starting (cold i think).