I have 103" and manual CR's' installed. Use them everytime. Every once in a while the bike doesn't start on the first hit. I have to press the CR's again and crank it over and it will usually start that second time. Like I said, it usually only does this every once in a while.
Yesterday morning it did not start on the first crank and I also noticed smoke. Didn't exactly notice where it came from, but figure it had to be the starter, right?
Am I getting ready to fry my starter? This was the first and only time its done this with the smoke.
With the 103, is there an upgrade for the starter and should I be considering this? More cranking power...

 

Is it possible that the smoke could be coming from the CR's themselves? Do they vent to the atmosphere in such a way that some compression smoke can come out?

 

Unless you are cranking a long period on that starter, the most likely source of the smoke is the CR(s).

 

I have gone thru 2 starters in last 3 yrs,I just installed a smaller ring gear on clutch basket.It is 66 tooth instead of the stock 99. Bought it from Zippers for $100. I didnt want to remove heads and install CRs.My build is a 95 in with head work and thinner head gaskets.

 

So if it is coming from the CR's, is this normal? If not normal, is it okay? Something to be concerned about? Maybe if it becomes more consistent of a problem?

 

Probably OK, but check your connections at the battery and on the starter and solonoid just to eliminate that possibility.

 

My 103 does the same thing. I don't know why, but it does. I know Im not helping you answer any of your questions, just letting you know I'm experiencing this as well.