Ok things i did:
Compression and leakdown---175 across and less than 4% across. Basically telling me that its not rings, a head gasket, or warped/cracked head.
Replaced PCV.
Pulled intake and downpipe from both sides of turbo--no oil found.
Pulled charge piping at tb--no oil found.

It burns oil only after warm-up (hot oil=thinner oil) and smokes a good amount after high RPM decleration or when clutch is down and cd\ar is put on neutral to coast.

Ok, I am thinking its the valve seals. Anyone else care to help me?
By the way, the smoke is coming through the exhaust--not oil dripping onto hot exhaust.

 

Im burning quite a bit off oil too, when the compr. check showed nothing, it has to be valve seals, so replace these and see how things go. I've heard that the head needs to come off B18C engines to do this and then i was told it can be done without removing the head, anyone know for sure?

 

Are you sure its oil and not fuel? not all fuel smoke is black. btw, you could try switching to synthetic oil for a while to see if it is oil smoke. synthetic oil will burn but it wont smoke.

 

a friend of mine bursted his valve seals during boost. after that his car smoked like yours. we replaced the seals and it fixed the problem.