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If the clutch were smoking, I'd imagine it'd be coming out the timing viewing window near your engine-block stamping location. To see if your clutch is toasted, go about 35mph or so, put it in fifth gear, and floor it, if your RPMs raise faster than your vehicle speed then you've got a slipping clutch.
The smoke from the rear of the engine, if I had to guess, is probably oil hitting the exhaust system and burning off. Next time you expect to see smoke and open your hood (this might work better at night) bring a flashlight and poke around for the source of the smoke. Also, check your engine oil level and make sure you're not low asap.
If your clutch is bad, however, your car will be slower (as you're getting slippage), but I don't know what you mean by "rpms not seeming as powerful."
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**Erik**
1998 base 5spd
Nordic Mist Metallic
JDM H22A
JDM Type S intake
Hondata IM insulator
Tein H-tech w/ KYB GR2
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