Engine Smoking and Transmission Leak

[GreenSHOoo]

My friends silver 93 SHO has smoke come out of the engine bay after being run hard, on occasion (it happened twice yesterday). He just bought the car with 97k. Also the Jiffy **** service place said he had a transmission leak how serious is a transmission leak and what could the smoke be. The smoke kind of smelled like burnt oil.

 

[SolidState]

the oil leak is likely a leaking rear cam cover seal and/or CID/CAM seals on the front of the motor. The oil will drip onto the rear catalytic converter and burn off.

Did they specify where the transmission fluid is leaking from? If it is that pan gasket, that is a relatviely easy fix, and likely not a terribly pressing issue. FWIW, my new pan gasket leaks a little, but it doesn't really bother me.