I did a compression test on the 216 in my 52. I had low readings on the dry test. On the wet test the readings were even lower. Yes the procedure was the same on both tests, to include the amount of oil I squirted in, the same number of cranks, evrything. Cylinders 1 and 6 had the highest readings, 90-95 wet, possible warped head?? But, no contamination of anti freez or oil.
I think it may be time for a different engine.