Had a 7020 with an l2_649I in it. They didn't make pump or nozzle changes when it went from an l2 to the 7020. Always smoked like a coal locomotive and ran away from my 115hp dyno'd 7000. The only time the 7020 didn't smoke was when I was burying the chisel plow or disk. Finally took it in to the shop and had it dyno'd, 150+hp. Had the nozzles changed and the pump reset to make it a 7020 again and the smoke disappeared! Most of the l_M series with the 649 smoked, from what I ever saw. The 670 in the l_N series wasn't much better until they went to the Bosch system in 1982. lack of boost pressure on the gauge can be a bad line or intake manifold leaks as tbran suggested. A bicycle tire pump can check the gauge for working capabilities, just don't get carried away with pumping too much or too fast.