This looks bad! Tell me the ugly truth. White smoke + oil . . .

[AussieinNC]

Those compression readings are indicative of oil contamination inside the cylinders....

Also, that oil pressure is way too low...should be around 55 to 60 pounds...

That stumble points to a bad TPS (throttle position switch)....or a bad wire or connection.

When you mention in your original post..."rebuilt" could you be more specific...

So much blow by could be broken compression rings during install...

There should also be a PCV valve in the system, to prevent oil pull over into the manifold. I usually use a catch can system to ensure separation....