quote from 1000faq:

I just installed an [BOV] on my [DSM], and it makes this 'chiirp' noise! . Is there a fix?

Chances are you used silicone to installed a 1G BOV to your 2G. The silicone can plug up a little secondary air hole in the BOV. The hole is located next to the main BOV hole on the mounting flange. Clean out that little hole and the chirp should go away.

could that be it for you ? I mean honestly though man if you have 125 compression across the engine is kaputt; check for signs of cw clutch looses pressure in left turns, timing belt ticks etc;

Try to describe what is going on better do you seem to be loosing boost ? Check gauge ? Turbo have normal spool up @ x rpm ?

I personally think it's done with so idk why I'm bothering writing all this you might wanna check vfaq and http://members.shaw.ca/costall/1000Q/

that site to check if it's similar to any problem on there...but all in all if you want I'm sure one of the members off the board could check the car out for you and diagnose the problem if you want to be sure about it...
hope for the best expect the worst