I have a 1996 and have experience with the banks big hoss. It is a single tune chip, since it plugs into the pcm and has no toggle switch. Yes it will smoke some minly off from a stop, not too much but better than my buddies edge on his 1994.5. My other friends 2000 with a DP tuner smokes like crazy, nothing like mine. The old OBS trucks have 90cc injectors and can barely smoke due to the limited fuel flow. Smoke is excess fuel not being burned. The califonia 97 & early 99 have 110cc injectors and the late 99-03's have 140cc injectors. The bigger the injector the better perfomance and capablilty to smoke with proper tuning.
One thing that helped it smoke more was I bought a dfuser 18k module for about $50, which ups the fuel pressure, making more smoke from a dead stop or when I let off the gas and jump back on it.
The big hoss module works well and performed excellently over stock making it fun to drive. I got the 100 HP / 215 TRQ tune from banks. I know like everyone else that i really didnt get that much power since that power rating was done on a cali 97 truck with the bigger stock injectors. If I had to guess i probably got a solid 40-50 HP at least maybe more. It also did help my fuel mileage, I could get 17 mpg city with: AEM cold air intake, big hoss module, and 4" exhaust with 3-3.5-4" downpipe, shimmed FPR and the dfuser 18k.
Now I have a TS chip which soon will get Tony Wildman tunes. I havent used the chip just yet since I'm putting on a new turbo and yes a Banks intercooler! with some other things like the IDM mod, 3" intake plenums and stuff like that.
If you wanted to get better performance out the Banks chip you could do the IDM mod yourself and FPR shim, and an open filter intake from napa for cheap to replace the K&N which can let in dust.
I have a video of the truck on youtube here:
YouTube - 4" straight pipe 7.3 powerstroke
In the vid I didnt have the Dfuser 18k which made more smoke. Also in the vid the truck was stationary just reving it didnt have a load on it which helps the production of smoke.
If you have any other Q's just PM me.