Drum Brakes Sticking

While you have it up, rotate the wheel and axle to see if a rear axle bearing is going out. It should be smooth; any bumping or roughness is a good sign that the rear bearing is going. (You might have to remove the rear drum to get the axle to rotate freely and check the bearing.)

And check the verticle axle displacement. Zero is the target, but I imagine up to .007 might be ok. This could also be the source of dragging and smoking, as the body would fall down forcing the drum into the shoes.