I am a bit troubled that one of the pots managed 19.5 BAR on the first attempt. The only way this can happen, IMHO, is if it was initially full of liquid which dissipated during the test.
Now, this could have been coolant from a breach in the HG, of course, but, whilst a compression check isn't necessarily conclusive, I tend to agree that those figures look too good for an engine that's blowing white smoke and missing as badly as you state.
What if that cylinder had a weeping fuel injector? If you've got fuel peeing into one cylinder it would misfire and you'd also get a shedload of smoke from the cat.
Given that the car has been laid up for a while I'm wondering if an injector has got a bit of dirt lodged in it.
I might be inclined to remove the plenum and run the fuel pump (bridge the two wider pins on the fuel pump relay). See if the intake to the offending cylinder starts smelling strongly of fuel. If you peer down the manifold runner you might even see evidence of leakage from that injector. Keep any sparks well away from the fuel vapour when you're operating the pump, obviously.
Kevin