Even compression on all cylinders would be uncommon for a blown HG, unless the gasket was damaged evenly (which would be quite unusual). What were the compression readings? Did you remove the coolant overflow tank cap to see if there was any bubbling in the tank during the compression test? If not, do you have any other evidence of a bad gasket?
The 'white residue' could be something as simple as normal condensation which didn't have enough time to get burned off because the engine wasn't sufficiently hot long enough. It would be really disappointing to do the gasket, only to find out it wasn't blown at all, and not the cause of your performance issue.