I got 150psi on all the cylinders, yet the motor spits out ALOT of blowby. I fill up about 1/2 pint of oil every 5 days or so in my catch can. Before the catch can, the smoke coming out of the breathers was killing me. I'd get to work high as a kite, my eyes glazed over and I couldnt breathe. So yes, a compression test is a good first start, but will not be a good test of the condition of the oil rings. My car sat for 4 years, and Im sure they didnt spray penetrant in the cylinders before firing it back up. Hell, the spark plugs were all cracked, and had been cracked for so long that the inner core had rusted, and the rust had seeped out through the cracks. There was really no care taken when firing the thing back up. So the rings were probably damaged a little bit from rapidly breaking the bond the rings had with the cylinder walls. I would recommend pulling the plugs and spraying penetrant in all the cylinders, and try to have the pistons down in the hole far enough that the oil spray can reach the rings all the way around.
So once the motor is warmed up, pull the hose to the PCV and plug it so you have no vacuum leaks. If you have breathers, pull the one out on the drivers side and look to see how much blow-by you have.
Then do a basic tune up. Plugs, wires, etc. Then adjust IAC and TPS. Warm it up and take scanmaster readings and post them here.
Oh yeah...I get 18 inches of vacuum at idle, yet there still is alot of blow-by. When I first got it, I had 12 inches and it barely idled at all. That was an acuumulation of cracked injector o-rings, bad hoses, leaky EGR, etc. So even a vacuum test doesnt tell you everything.