The needle is flickering like a m*ther f*cker, i guess theres no need for a compression test then...

 

I just noticed something wrong with my car, as i was pulling the engine apart i noticed that my EGR valve was completly off, both bolts gone and it was just hanging there held up by a vacum hose thats on it... Could this be the problem, can this cause all the same simptoms of a blown motor? And another question, i have a power FC, doesnt that disable the EGR valve? I also have most of my emmisions equiptment removed (air pump, cat, and so on...) Anyway i doubt that could cause this problem but better to know for sure.

 

Depends, is the hole it should be in plugged? If the holes are wide open then you've probably found your problem <catastrophic vacuum leak> otherwise its probably blocked and may have been left in to keep the old ecu happy or something.

 

Is the flickering boost gauge needle a sign of vacuum leak?

 

It can, but the other symptoms you described lead me to believe you have greater problems than just a vacuum/boost leak at the EGR valve.