It's been a while but there's good news now. IT STARTED! IT'S RUNNING! The theory is that because moisture got into everything, the valves were stuck. Also, there was 0 oil pressure. The hydralic lifters were removed, cleaned, inspected, reoiled. The oil pump was forcefully turned with a power drill until there was pressure. The oil pressure is now between 16-40psi depending on the rpm's. We haven't rechecked the compression as yet to find out if there is still a variation of pressure in each cylinder but will do that in the future. New oil was REALLY dirty, the oil was changed again today. I'm soooo excited, IT'S RUNNING!!! Now the last hurdle to get rolling is the rearend. After sitting for at least 12 years we're making sure everything is lubed before going for a ride.