if you're getting compression then the side seals are fine. So it had 3 even bounces at 90 psi?
The oil could be coming from your oil control rings, or the turbo. Turbo's have been known to be rebuilt wrong so I wouldn't rule that out completely. Even if it's blowing oil it still shouldn't be that slow. You can have pretty bad compression and still have power.
Check the turbo, if there is little to no play and spins freely then it's not your power problem. If the motor has even bounces of over 85 psi on both rotors then it's not your power problem. I'd check other stuff like engine check codes (have you checked to see if the light comes on?), plugs, injectors, filters, etc.
The gas in oil and blue smoke are probably because of bad oil control rings, so the motor is probably going out, but that wouldn't affect power very much if at all.