85 turbo lebaron turbo issues?

[Eastburn_420]

I have a 85 Lebaron conv. 2.2 t-1 setup
I bought the car for 400 bucks, and barley got it home.
I thought the turbo seals were no good because there was a nice dark cloud of smoke when you ran the car and the owner told me the car kept fouling plugs. Just to make sure rings were good I checked comp were good there 105 - 115 psi (7.5-1 - 8.0-1)
So i decided id check the o2 sensor for any signs of oil. Carbon lots of it. Looked just like the spark plugs caked in carbon. now befor the o2 sensor was out car would barley idel and didnt want to idle in drive. with o2 sesnor out it idels way better and will idle in gear with no prob. a little ruff but runs.
When you drive turbo takes a while to spool and then when it does it will cut out at the top of its spool and there is complete power loss for a sec and it will try to spool again and it repeasts this when the pedal is on the floor and there is not that great of throotle response.

Any sugestions are links that would help would be super D duper

Thanks
EASTBURN