My daily driver '87 SS had 110K on the original 305 when I went to inspection last year. It also has the usual smoke on startup, but as long as the car is warmed up, you'll have no worries about it smoking while it's online. If it does, just put it in Neutral and rev it up to clear the smoke out before you pull into the station.
Also, make sure it's in good tune (plugs, wires, etc.) and the cat is in good shape, and you'll be fine. My car passed with flying colors.