Valve seals will cause the blue smoke at start up. The burning oil from bad valve seals would also cause the film on the bumper. Your car would require further testing but it could be worn valve guides causing the 90 psi of compression. That seems low. The fix would be to have your head or heads reworked.
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That is a bit low for a good engine, but being that it is even on all cylinders, my guess would be that it is just showing signs of wear from age. The oil could be from around the rings, or it could be leaking valve stem seals, also a sign of age.
Testimonial: "thanks for the input I wasn't sure about the valve guides causing the problem"
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