Well all was looking promising. Car was making 285rwkw's @ 20psi despite a boost leak from the injector seals and 11.4 AFR's, but this water/oil issue has not been solved so it's coming out again.
I took it to Sandown on Cup day and it lasted 1 lap before a bit of oil spray forced me to come in. I checked the oil and it was milky so that was the end of my day. Super frustrating... one day my luck is going to change!
Inspecting for water contamination
Few pics from Sandown