Coolant in the oil will definitely take out your cam bearings not to mention just about every other bearing in the block, it's time for a rebuild. As vp stated, a headgasket is the most likely source of your troubles, if it's leaking between a coolant passage and an oil return passage a compression test will not reveal that. If it were a leak between a coolant passage and an oil supply passage you would have oil in your coolant as the oil pressure is much higher then the coolant pressure (roughly 60 pounds versus 12 pounds pressure). Coolant leaking into the cylinders produces thick white smoke. The other possibility is a cracked block. If it is the block, that motor is toast. You may want to secure that replacement engine. Best of luck, sorry about your woes...