Strong exhaust smell on 87' with TBI

[92470]

I know this is a real open ended question, but I have a 87' V10 w/5.7 that always has a very strong exhaust smell that I want to get rid of. My garage, clothes, hair, smell after I drive it and the wife is sick of it. Motor has never been rebuilt and is stock with 145,000 miles. Exhaust is dual with no cat. Truck always starts and runs fine. Sometimes dies when is started and put into reverse. This is only in reverse (strange). When I start it, white exhaust comes out of both pipes and smells very strong (not a oil smell, but more like fuel). Goes away after start up, but still has strong exhaust smell. If you barely give it fuel, it sputters, but doesn't die. Those are the facts.

I checked the TBI and spray looks good with timing light, and there is no fuel drip or pooling after shut off. I just adjusted timing , and noticed no real differance. All vaccum lines look good, and I see no leaks. EGR also operates as it should. Coolant temp switch is new. What else should I check out? I don't want to throw parts at it, but wondering if anything else stands out to you guys given the facts here. I know older vehicles exhaust smell stronger and with no cat, could be the case, but smell has got to go. Any direction is appreciated. Thanks