Hi All, Thanks for the help so far it is much appreciated. It may be worth starting a new thread here but I think I am going to just spit it out and hope for some good feedback...Please read on:

I drove the car home (~40 miles) and the smoking (white/blue and very thick cloud) continued the whole way. I am sure that some of this smoke is attributed to oil burning (read below for more on this) since I lost about 2 quarts of oil in 40 miles. When I got home I parked on a inclined surface (~5 degrees), popped the hood and took a look around. With the car idling I noticed:

--> The first fuel injector is leaking fuel. I can see bubbles that are gurgling near the distal end of the injector.

--> The fuel filter has some evidence of Algae in the fuel system. I can see black deposits on the filter.

--> The rear of the car was covered in small oil spots.

--> The tail-pipe was rich with wet oil (stuck my finger in there and it was covered)

--> The car was not generating any white smoke while idling...

***** I rev (2000 rpm's to 4000 rpm's, quick burst) the engine a few times and notice the following******

--> A large amount of white/blue smoke from the exhaust

--> Oil in it's liquid form dripping from the tailpipe!!! When I rev the engine the oil literally spray's out of the tailpipe!!! total amount dispensed while watching was about 5 Tablespoons.

Some background information that might help in providing advise:

--> Car has 135K miles on it. The engine has recently been tested to have good compression (350,325,300,350,350)

--> I changed the timing chain and adjusted the valves 2 weeks ago. Felt the Turbo shaft at this time and it did not have any play in it as well.

--> Vaccum pump tested to have 20in.hg. at idle and 25 at higher Rpm's

Oil is somehow getting into the combustion chamber and exiting the exhaust in it's liquid and gas phase. Any ideas on how this is happenging???

Some ideas of mine (remember I am a newbie here):

1. Fuel Injector : Could a very leaky fuel injector somehow cause this? Sort of a long shot but I am crossing my fingers for a simple fix : )

2. Valves: If oil were excessively leaking into the top of the cylinder through the valve's would it be able to somehow escape without getting burned up? Would this be caused by the valve guide seals?

3. Piston rings: The car has good compression but the oil scraper ring could still be damaged.

4. Vaccum pump : I have read that some excessive oil smoking may be caused by a bad vaccum pump or a bad bladder in the vaccum system. Is there a vaccum hose that I could check that might be spilling a ton of oil into the exhaust?

Please advise on the best next step towards finding the root cause of the problem. This car has been a big handful for me in my first month of owning it and this forum has been priceless. Thanks in advance for reading such a long thread. Please post any questions that might lead towards solving this.

Thanks,
Billy