Hi blue-max, “engine smokes a lot” is quite subjective and hard to tackle.
First question is always, “what kind of color is the smoke?”, especially under high loads. blue/ white smoke would indicate potential wear of piston rings and should be noticeable in oil consumption, real white smoke is steam from the exhaust, grey/ black is combustion (turbo, airsupply, poor nozzles) or overload (boat reached max hull speed and does not plane, too big propeller fitted, poor hull cleanliness) Does the engine smoke more than previously, because Volvo’s just tend to smoke more than other engines. FYR: On our previous Bavaria (VP 2002 engine) I had the injectors also removed and tested at 2500 hrs, they still cracked (opening pressure and spray pattern) like new. You dont need to replace them, just take them to a diesel engine workshop who can do the testing for you.
With regard to fuel consumption, look at the consumption curve of the engine. I found it for you online. Your consumption at 2500 rpm is at the normal curve…. FYR, For our D2-55f running at 2500 rpm, 5 - 7 litres per hour is a common consumption and makes rediculous speed…