Either is not a good judge to go off of. I have seen good running engines not fire on. Try turning the distributor while cranking, get it to backfire or buck or do anything. If it still won't hit, hold the throttle wide open and crank for a bit incase its flooded.
How did you get the compression readings?
was the throttle wide open?
all the plugs out?
each cylinder had four or five revolutions with starter?
dry or wet cylinders?
If all the above were met, you are way low on compression. Have you soaked the cylinders with penetrant oil to loosen the rings?
Joe
