I have, just this afternoon, reset the Distributor, adjusted the valves and then did the compression test, for a second time. This engine has a reconditioned head, honed cylinders, line bored mains, new rings and anything else I could think of to rebuild. Even put a 6V alternator on it. When I first discovered the bad compression, I replaced the new head gasket, thinking it was installed wrong or ruined somehow during the oil/water problem.
My fear is that I have done something to the rings or reconditioned head somehow, causing an across the board compression issue.
