ABS light indicates a problem with the ABS
Most likely it'll be a sensor fault
You can heck by disconecting them and checking how many ohms resistance there is on each one
IIRC they should be about 995 ohms
If theres one different then that's the one that's causing the system bother
Brakes will still work fine without the ABS
Just needs to be working for the MOT
What EXACTLY dies the ABS light do from the moment you turn on the ignition, until after you have driven off?
Brake light warning LED on the check panel indicates a problem with the brake lights, not the brakes themselves.
What colour smoke?
Black/blue smoke.NOT GOOD! especially on higher rev gear changes. Yet when it warms up it seems to die down alot. but only paid £500 for the car so wasnt expecting a beauty! might just sell it again. get myself a nice one.