Re: First time poster... with a couple of questions.
Beautiful car with a nice story. It deserves to be driven.
The engine will start and run with cylinders between 50 and 80 psi. And after running a while, the compression may improve, as the valves and rings reseat.
Have you confirmed that you have a good spark at every cylinder when cranking. Remove each spark plug wire and hold it near the block while cranking. It should jump half an inch with a white or blue spark. If weak and yellow, the ignition system will need some work. If you have a weak spark, try cranking it with a little starting fluid (ether) shot directly into the carb.
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