I have an '87 GT with a stock 2.8 litre v-6. The car has been in storage for about the last 12 years and rarely driven. Now it seems like it's running really hot. It doesn't seem to over-heat but it "smells hot" inside the car while driving it, and when I shut it off you can see "steam" rising from the engine.

Does this sound like a sticking thermostat? It didn't do this when we used to drive the car regularly.

It sounds like oil has dripped on the exhaust manifold.

Hmmm, oil drip on manifold? Thanks, I never thought of that. I did notice some oil drips on the garage floor under the engine so I suppose the oil seals got hard or brittle from sitting so long. GO PACKERS!

I also say oil burning off.i would also change the antifreeze so it doesn't start breaking down inside.the system.