PCV VALVE!
i had close to the same issue back when i got my car running, it was blowing blue smoke horribly, oil in the exhaust pipe, dipstick would shoot out when i got into boost etc. So after trying to diagnose it for about 2-3 days i realized the old pcv valve that came on the motor was gunked up and bad; so i replaced it and problem went away.
It is probably the most over looked part on any engine.
Try disconnecting your pcv valve on your valve cover and plugged the hose that goes into your intake manifold, if the car acts fine after that replace it.