Vacuum and compression are fine. You could just be suffering from non-functional oil rings (aka broken, stuck). Only way to determine that is to pull the pistons. Are you burning oil? If not too much, a little blue smoke helps with the mosquitos. Maybe try some SeaFoam and see if that cleans things up a bit.
I’m running two of those WA-1‘s on my dual carb Offenhauser setup, cuz’ I’m a glutton for punishment

. Runs pretty good for a motor that was blowing smoke with many broken piston rings and a slowly dieing head gasket (both/all repaired). The Carter’s are not original to Toyota but are the carbs Offenhauser suggested for their dual carb setup. FWIW. They’re easy to rebuild, simple and fairly dependable. But having spent a few years in St. Louis I’m a bit biased towards Carter (and Ramco piston rings). Mike’s Carburetors has kits for these. And just to prove I’m not a complete imbecile I have two Toyota SD-40’s (those would be original to our rigs) with rebuild kits sitting on the shelf for a truly smashing, and probably unique, dual “big glass” setup, someday.