I have the same 170 horses in my 94 buick lesabre ltd with the grand touring package so i have the bigger 16" tires. Its got around 50k on it now, and still the original tires so that could be helpping me get some smoke on a burnout, but the trick i found to get some smoke is turn the wheel all the way to the left, and just punch it. I did this once to make a u turn, and the wieght just shifted to the front of the car and the wheels just spinned as it turned, when i looked back there was a big puff of smoke behind me and you could smell the rubber inside the car. Another way to do some good stand still burnouts, is when the engine is cold, drop the tranny into first gear. Roll it to like 10 mph and then just punch it.
Have some fun!