Actually, those numbers look OK to me. I don't think the 1941 216 has a lot of compression any way. Is the motor smoking? If so is it smoking during acceleration? Might be rings. Under deceleration? Might be valve guides. If it is not smoking and it has good oil pressure and no expensive sounds then it is probably just fine. It will only make about 80 to 85 Horse power when it is all new so that is what it is. Some of these motors will last a good long time if not abused and maintained. I had one in a 1950 1/2 ton I drove daily to work and home for 7 years. Leaked but ran just fine. I drove around with a case of EP recycled oil in the back and "checked the fuel and filled the oil" on a regular schedule. I miss that truck.

Steve H