I had the same terrible smell problem last year after messing with the rear chrome divider split tubes. For some reason this created the back-draft problem Amervo mentioned, and the gasses and fumes worked their way through the trunk back into the car interior.
Extended the splitters by an inch or two (and changed their angle outward a bit) and the smell is gone.
'68 428 HO M3 Monster, 4-on-the-floor! Need I say more?