Was the engine running or sitting for a long time? An oil change and a seafoam treatment may clean things and get some compression. If it is only those two cylinders, it may be a head gasket. Is there water and oil mixed in the radiator? The only way to tell anything is to complete the compression test. I would go with hardened seats just for insurance, won't hurt. Just yesterday was at the machine shop having a similar talk. Magnaflux is the key event in this process.
