My guess is #2 is going to be a valve, probably exhaust, not rings. Try getting #2 to TDC on the compression stroke and then applying compressed air through the spark plug hole. Listen for the leak at the exhaust pipe and the carb with the throttle open.
Ignoring #2, I'd accept the +- of the other 5 cylinders at near the average of 114 psi. Not great, but servicable.
'57 GMC 102, Original 347 V8, HydraMatic, 3.08 rear gear, added A/C, disk front brakes, HEI, AFB carb, '98 Honda Black Currant paint. T-boned and totaled 10/12
'52 GMC 152 Stake Bed, Original 228, SM420, added A/C, HEI, disk front brakes, '67 Chev 3.55 rear gear. Gets used as a real truck.
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