How long ago was the engine rebuilt? If that is unknown or many miles ago, and given that a 261 is a highly desirable engine, I would do a complete overhaul of everything. It is a pretty big chunk of change, but if you have it done, you will never regret it. All new stuff is a great piece of mind.
You have a 13.3% difference between the highest and lowest compression in your cylinders, which is excessive.
You may have a spun bearing which has scattered bits of bearing material throughout the engine which must be removed before more damage can occur.
It will be a lot of work to remedy just these two issues so you may as well go for the gusto and do it right.
Carl
