Gary,
My 280SL is in a pretty good state of tune. It has passed the "Blacklick CO test"; been adjusted by Joe Alexander himself, runs well, and plugs confirm a good state of tune. It idles smooth, pulls strong, and runs sustained high RPM at highway cruise--typically 4,000 RPM--for many hours at a time. It isn't perfect, but it is pretty darn good. What ever it would take to make it perfect, isn't much. Exhaust tips have a light coating of dark grey ash, just as they should.
All that being said, I REEK OF FUMES every time I come home. After each drive, I change my clothes. I think your assessment is correct; with top down, there is a swirl of exhaust that gets into the drivers compartment, even at speed...
Our engines may have been good at the time, but they make (by today's standard) an alarming amount of unburned fuel, astounding amounts of NOx and CO. They make far greater amounts of fumes when compared to modern cars. One reason why this lightweight gets 16 MPG, and my daily driver whale of a Ford Flex manages 24 MPG with a 3.5L V6 pulling another ton of metal. Modern.
Full disclosure: I have a very sensitive nose, and can tell when the neighbor 3 doors down uses dryer sheets doing laundry...
Like you, I don't smell it much when driving, but boy when I get home the smell is sure in my clothes...