I've always been oily and pimply, but in the past couple years my skin has shifted into the "combination" territory where it gets dry in patches and is even prone to eczema when the weather is really dry. Not so fun.
I've had great luck with the Bare Escentuals line - both the mineral veil (translucent powder) and the mineral foundation, which I also use as a concealer. One suggestion if you decide to try them out - get color-matched with both the original and the matte versions of the mineral foundation, and take samples of each home before you buy. I was matched pretty well to the "Fairly Light" shade, but found that the matte (non-shiny) version actually looked more orange/yellow on me and didn't blend very well, whereas the original shade just looked natural.
After I put on a sheer coat of suncreen (I use the Neutrogena line) as a base and let it dry, I'll dust a coat of Mineral Veil powder all over, especially the areas where I tend to get oily. Then I'll go to town with foundation - a thin layer all over, and more concentrated with a concealer brush in areas where I have blemishes or need more coverage (under eyes, etc.) After I'm done, I'll put another layer of Mineral Veil over the top. As long as I have a "before" and "after" coat of transluscent powder, my makeup stays on pretty well (unless I'm at the gym or something similar that involves heavy perspiration.)
My sensitive skin is still troublesome from time to time, but it's actually improved a lot since I made the switch to mineral foundation, and a lot of people actually compliment me on my "good skin", not knowing that most of it is just an illusion. However, I've heard of other folks with sensitive skin who have trouble due to the bismuth or mica content that BE uses, so again, I'd highly recommend trying out a sample before you buy a whole pack.
(And if you do decide to get an entire container of foundation, BE now offers a new "starter kit" for $60 where you just pick out your foundation and pop it in the kit - it includes several brushes, brush cleaner, mineral veil, and "warmth", an all-over color that I use as blush or bronzer or even eyeshadow. Well worth it if you actually need & will use all components of the kit.)