All kinds of suggestions.
Here's a quick way to check valve guides / seals. Does it smoke when you first start it then clear up and does it smoke on decel in gear? That would indicate valve seals or guides.
Smoke under WOT will typically be rings (or overjetting)
Leakdown and compression tests will not diagnose oil problems unless there is significant leakage past the rings and they will never diagnose leaking valve seals.
If you suspect valve guides you can always drop the pipes and look in the exhaust ports.
Before you go that far, check the basics. Not overfilled (remember its a Softail so run it before checking the oil), not sucking oil through intake, correct oil filter.
Even though the MoCo sells the 5 micron Twin Cam filters for Evos, they have been the source of many a headache due to the way the Evo oils vs a TC. be sure to start with an Evo filter at, I believe, 25 micron - get one from the local Drag Specialties dealer.