More Stuff Wrong
 

Looks to me like at a hair over 90k it's about time to do some repairs. Getting super frustrated with this car lol.

Problems:
1)
missfire cylinder 4
Possible Cause in Order of Ease to Repair

Spark Plugs
Spark Plug Wires
Coil Pack
Injectors
Intake Manifold Gasket (Gasket seems to go bad around the #4)

2)
CEL code indicating Camshaft Position Sensor problem.
Possible Cause in Order of Ease to Repair

Poor ground connections
Actual Wiring
Actual Sensor
Crankshaft Position Sensor as well (some people have had luck here)

3)
Worst part of all this: Possibly Piston Rings need replacement.
Symptons: water mixed with oil coming from tailpipe? Water could be as a result of condensation, but I've never seen this much come out. Faint white/bluish smoke from tailpipe... burning oil. Not driving the car until I have confirmed the problem.

To repair:
"Me and the mad scientist are gonna have to rip apart the block and replace the piston rings you fried!"

No, seriously. If this turns out to be the case, cars gonna be taken out of commission long enough to get that repaired. Might replace other things while in there if it's an option.

On that note... anyone have a compression tester i can borrow? I'm in the lake forest area so if you live locally that would be preferred...

Kdracer and joedls I'm thinkin ur the closest to me... do either of you have one? That'll help confirm the need to pull the block apart...

I gots one !! You could swing by and pick it up. I work Lake Forest-Moulton pkwy area and live Trabuco- Los Alisos. I am at work till 5 or so. Let me know when and where you want to grab it.

I hoped u might :):) I work on Oso / Marguerite and live at Bake and Trabuco... I'll have to figure it out.. i think i still have your phone number... (got it before the first meet i ever went to... beach cruise ftw!)

PM sent

Problem #1 and #3 seem to be related, possibly #2 can be too but don't know your system. Does the exhaust smell sweet? Get your hands on a cooling system pressure tester as well to help rule out BHG. Look under your oil cap for a milkshake also.

BHG?

Blown Head Gasket

This reminds me of the late 1990's when all the single turbo Poopra's were running around with wiggings clamps on there radiator hoses. I agree with Brian. I thing you have a blown head gasket. If it was the rings then you would be burning oil, but you wouldn't be getting all the water. The good thing is that a head gasket would be cheaper to fix. If it's the rings then you'll problably have to get the block honed.

On the flip side, it's a great oppurtunity to upgrade!

ok thanks, yeah someone else mentioned that might be the issue as well... anyway to tell without taking the head off?

Catalytic converters convert NOX & Hydrocarbons into CO2 & WATER. A blown HG is not going to allow the piston to suck up enough water to notice it shooting out your tailpipe. It will burn up and steam out... gets pretty hot in there.

If you have milkshakey oil, then you have a blown HG. If you have water coming out your tailpipe, it only means that your car was made after 1974.

If your motor is burning oil, could be rings. But at 90K I doubt it. If your valvecover leaks oil onto the exhaust manifold, it could seap in through the gasket and burn out the tailpipe. Happened with my L48 motor. Does the smoke go away once it's up to operating temp?

Replace your cam sensor with a new one before you try to diagnose the misfire. Those are easy to replace.