If it was just your waste gate actuator, you would likely still be able to build some boost if not over-boost, since the actuator spring holds the waste gate closed until it has a predetermined amount of boost pressure applied to the diaphragm. It is not likely that the leak at your waste gate actuator is allowing a large enough boost leak to prevent you from building any boost at all. That being said, you should not be able to blow air through it either. Sounds like you may have multiple issues. Check to make sure your internal waste gate flap is actually closing. If it does not, you will not build boost. You could have a sizeable boost leak, check all of your charge pipe connections and check operation of your bypass valve.
The smoking issue could be due to you car dumping excess fuel due to a large boost/vac leak. Check your boost and vac readings. However, blue smoke usually means you are burning oil. could go on and on, but hopefully this helps.