John,
I wanted to follow-up with you on my turbo replacement and smoke. My car has stopped smoking on full throttle and at stops when warm/hot with my new K27 7200. Still smokes on start-up, but I think all 930s do.
Your car sounds like it is doing the same thing as mine. We do have quite a bit of smoke on start up and at full throttle. When I crank the car there is a thin oil mist that shoots out the tailpipe. Since I am having the problem and the turbo has never been changed in the 100,000 miles that are on the car, I have just decided to replace it. I have ordered a new turbo and muffler. I should have them within the month. I will keep you updated on the project and whether it helps or not.