Uber flooding?
 

I've been having cold start issues for some time now, and it's really getting to me.

First off, I have a '86 GXL.

Now, when I try and start it in the morning, it just cranks for a while and all i smell is gas. Like real bad. The weird thing is though, if I let it sit for like an hour after I've done that, it starts right up. When it does, it smokes for a sec (No, it's not dead-coolant-seal-white) and bogs out if i hit the accelerator.

So, any ideas? Also, I've tried the deflooding procedure, as well as doing it without two spark plugs in and even then it doesn't like to start.

Update: Went to start it today to come home from work and it began to start but hovered between actually starting and still being powered by the starter and didnt start til i gave it some gas. Ugh.