If you have a journal bearing turbo, DO NOT use restrictors or you will destroy the turbo. If you have a ball bearing turbo, call up the manufacturer and see what they recommend, normally a .040 is fine. Last time my car was smoking like this (fine at wot and horrible as soon as I let off) it was the oil seals on the turbo. First thing is first, remove the intake pipe going into the turbo and wiggle it to see if there's play, if not then remove the turbo itself. If there's oil in the manifold/header then it's coming from the engine. If it's dry in there and wet in the downpipe it's coming from the turbo and needs new seals (probably a rebuild). When this happened to me, it seemed like it just happened all at once with no warning.
The last thing I checked was the plugs and none of them were wet from oil or wet period. The car has been running rich but nothing too bad.