Here is a video of starting it up and then the exhaust with the Summit universal muffler, a mystery Flowmaster muffler and then uncorked. It's not as loud as I would expect uncorked, but then again this is the small 1bbl cam in it.
Still needs some tuning work. I can't tell if the smoke is fuel, oil or condensation from it being 32*F out. I re-used the piston rings in it, so I wouldn't be entirely shocked if it's oil.