Car starts, shifts, revs rpms but doesn't move

So I just decided to work on an camaro sitting out
in our field.  Hasn't been driven and the only thing
keeping it there was a clogged fuel line and a
leaking carb.  Fixed those issues and checked all
the fluid levels and everything is great.  I start the
car and it turns over fine.  I push in the break and
switch gears to reverse and release the break but
no movement other than a little since I'm on a hill.  
I try the gas but still no movement.  I switch to
neutral and the same. (Even though that's what
neutral is)  I try drive and still nothing happens.  I
check my tranny fluid but it's full with brand new
fluid. Then I notice while idling the bottom if the
car is smoking a light grey smoke appearing to
come from the transmission.  I checked under the
vehicle and the arm moves when switching gears
so why no power?