First, has the foam crap been removed from your air filter box? I've had the foam decompose and clog the air mass meter, and fill the front of the turbo. Second, your air is metered by your air mass meter, if it lies, and your car "bogs", the boost pressure won't build. Third, check the hose that comes from your air inlet hose going into the turbo that crosses the valve cover, and disappears under your intake. See if this came loose from your crank case box. This could be your smell, and your loss of performance. Fourth, even if you have no check engine light, a code could be hiding. Read your codes, and see what you've got.

Chris