with variable cam timing, you're trying to do a few things...not really to increase outright power.
firstly, maximise the overlap when cold and at low revs so you needn't have EGR ( emissions gain )
secondly, retard the inlet timing a bit when in the midrange to increase the amount of mixture trapped at IVC.
and thirdly, maximise overlap again at higher revs to regain the power you've lost from the first two.
Of course, the better systems like the Rover one and Honda's VTEC are variable duration, which you wouldn't get by moving the cams. This can and will improve power markedly.
The engine in your Omega was initially going to have variable cam timing until Opel decided it was cheaper to fit EGR. You can still see the bulges in the cam belt cover to clear the variators. I have some pre-launch info which states that the engine's got variable cams.
Actually, I can't think of a variable cam-timing turbo engine off hand - I suspect the use of the variation reduces considerably with a turbo car.