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The engine isn't burning oil because the level hasnt gone down on the filler neck and the fuel pressure is normal. The turbos are in mint condition with really good boost, but i do notice that the turbo control actuator was covered with oil?
I got a revelation for you all...our engines burn oil by design. That little thing called the oil metering pump is what squirts the dino juice into the housings. At any rate, Ryan95's on the right track. Blue smoke is *typically* oil being burnt. It's possible that you've got some leaks on your turbos, or if if you overfilled your engine with oil (incidentally, the filler neck is NOT where you should be checking the oil level...if you can see oil in the filler neck, drain some!) that could definitely cause it (I had a problem where I overfilled the engine oil and it only became apparent because the oil leaked out onto the y-pipe due to a bad rubber connector).
Anway, like I said before, get that car up on stands and take a look around man!