If your son is one year old and has a resting heart rate of 170 beats per minute (without a fever) that is abnormally fast. If the oxygen saturation is 97% that is normal, and as such the "blueness" is likely due to what is called acrocyanosis. This means that the lips and nail beds look dusky when the person is cold. Also, the blood vessels around the mouth and eyes can be more easily seen in fair skinned children. A pan-systolic murmur can represent either a hole between the lower pumping chmbers called a ventricular septal defect (VSD) or a leaking heart valve, usually the mitral valve. If either of these heart problems is of a significant degree it can make increased work for the heart, and one may have rapid breathing. It sounds like your child does need cardiac evaluation and testing. An electrocardiogram, chest x-ray and an echocardiogram sound like they are indicated given these symptoms. As far as acuity of the evaluation, it sounds like your primary doctor did not feel that an emergency was present, but you should recontact that doctor about your concerns and make a plan for getting the evaluation accomplished.
That sounds much better to have a heart rate in the 130's. I agree with your plan to take him back to the doctor to clear up your questions.
Thank you so much for your reply. I checked his pulse while he was asleep and it was 130bpm is that ok? I have looked on google but I am getting such different answers. I am going to take him back to the drs tomorrow. His lips go blue when he is out in the cold but i always wrap him up so well so he shouldnt be that cold, he has a snow suit and blankets and is in his pram. It is very worrying.
Thanks again for your fast response.