Spark plugs clean and not oily when you took them out for the compression test? 10 qts of oil in that engine might get close to a little of it getting around the rings, but I'm not sure.

Check for spark at the plugs. Good healty blue spark. If you have that, try a little fuel down the carb throat and see if it comes to life.

Even with 100psi it should fire up.

Maybe the rings aren't seated well enough to hit the higher compression. (I don't know).

What is the valve lash? Maybe the valves a little too tight.

Check all the basics first. Spark, fuel and timing. Maybe the distributor was just loose enough it has turned a little and is out of time. Cold stiff oil could turn a dist that is not quite tight enough.