As for the temp of the smoker, it depends on what you're smoking. For pork butt and ribs, anywhere from 200* - 250* is good. This is something you need to get used to and see which works for you.
Do you have a reliable thermo so you know these temps are correct?
As for the smoke, what you DON'T want is white billowing smoke....that is bad juju... you want a thin blue smoke. If that's what you mean by 'very light smoke', then that's a good thing.
As for condensation, if you're using a water pan in the smoker, then yes, that water is turning to steam and collecting on the walls of the smoker... as it cools back to water from steam it will collect on the side walls of the smoker and run downward....
There's a great 5 day eCourse available on the site. If you haven't gone through it... I'd suggest doing so.. very informative.
Shout out if you still have questions!