Damn Nick, sounds like a bit of an unfortunate event for Christmas for ya. Definetely sounds like you blew the stock turbo. If it's pissing out white smoke its burning oil from the turbo. Easy way to check, jack the car up and unbolt the dump pipe at the cat, you'll most likely find bits and pieces of the ceramic exhaust wheel inside of it.
Also who did the compression test? If its consistent on all 6 cylinders that's the main thing, however 110-125 is pretty low....
If you need a hand, let me know and ill come check it out.