My truck is a '97, and I believe the smoke opacity limit for emissions testing is 40% (it's allowed to block/scatter 40% of the light going through the exhaust). I believe commercial trucks of the same age are held to roughly the same standards. That's a good bit of smoke in the exhaust. But until you get into the high pressure common rail stuff (up at 30k+ psi, multiple injections per cycle), you'll get some smoke under certain conditions.
As a sidenote, HO+NOx has gone from 1.7g/km to 0.350g/km in 2013 (and onto 0.215g/km since then, in 2016), which is often as significant when it comes to desires to reduce air pollution.
For every hipster yuppie driving "muh classic Hilux just like daddy owned in 1993" there a few dozen people living out of the back of a Caprice Classic wagon because they have no better option.
I always thought that banning old diesels from centers of European cities was just silly (they passed their emissions after all so they can't be billowing smoke, right?), thanks for changing my opinion