We are painting our plaster walls in our heritage home. There are a couple of spots where we cannot get rid of paint blisters. We've tried sanding down to the original yellow paint, washing with TSP and priming again but the blisters come back. The old walls were blemish free so we figure that something was on the surface of the old paint. We're using a good quality latex primer and paint. Not sure what we can do next.
Since you have already tried TSP, the next step might be to try using the stain killer called "Kils" in oil or latex and spot prime over the area where the blisters appear. Another good stain killer is "Lock Tite" from MAB Paints. Use it in the same way. If this does not work then you will have to cut into the wall about 1/8 of an inch in the blistering area and then use a spakling compound to fill it in then sand and prime with stain killer and wait and see if it works. If it does work, your all set. If it does not work, try paneling.
Did you rinse the TSP thoroughly? If not, that might be your problem.
Which "good quality" latex primer are you using? (Many folks on the board have had problems with latex Kilz products.)
Since you have adhesion issues, an oil-base bonding primer is definitely the way to go. (You probably have oil paint if the house and paint is old, and there is no way water-base kilz would stick to that.)