Black smoke is lack of air.
White smoke is late injection timing, always.
A diesel really has no lean condition like a gasser because the fuel is injected not mixed then metered. A lean fuel mixture just limits rpm and asl ong as its injected at the right time it will run fine.
Leaks in the fuel system after the LP are noticeable as diesel all over under the hood. If the LP is putting out full flow you can spray as much fuel under the hood as is used to run the engine and see no performance loss.
Leaks between the LP and tank show as hard starting and lack of power. Normally on a jerk pump when it runs out of fuel it runs out of rpm and quits revving. No smoke just no go.
The gear on the IP is a press fit with no key way and they slip. Since the P-pump has no dynamic timing a small slip will limit the rpm it will rev to without showing white smoke which is unburned fuel. It hits a point where the fuel is just being injectoed too late and it noses overs, frequently back fires in the exhaust, and throw lots of white smelly smoke.
With white smoke always look at injection timing first. Then look at fuel delivery and then possibly something in the governor sticking.
With the boost a 22 psi and no mention of a bigger turbo, boost leaks are usually not an problem. Since the engine runs good till about 26-2700 its doubtful fuel supply is an issue.
As always, an internet diagnosis is only as good as the given info.
