I hate bad compression test results too. It could be a combination of weak rings and top end on #2. When did you last check the valves? I would do a leak down test next if you have one or can borrow one.
X2 on NoCal: hopefully you'll diagnose a leaking valve which an adjustment will cure.
Sucks, man! I remember when my '83's head gasket went after I had done the intake manifold dance & swapped in a trick exhaust header. I was in denial for a couple weeks, trying stop-leak & chicken bones.
just saw someone going diesel in this forum last night and was selling his good running 2f dont remember where he was from but who knows ? or just start looking for a FI bowtie good luck ...by the way the rest of the numbers are all over the place how many miles you got?
The oil in cylinder test is not real accurate. If too much oil is added, the additional displacement of the oil increases the CR, leading to inaccurate results. If not enough oil is added and distributed around the piston (more of a problem on flat engines), then results are inaccurate.
X2 on pull the head. Knock valves out and inspect. Roll crank so piston is at BDC, inspect bore.
Hopefully, it will just be a burned exh valve. 12 new stainless valves and it's better than new.
I took the plugs out and disconnected the ignition coil, place the tester in the cylinder(s) and cranked for a few seconds. I cranked it for about 3-5 seconds. With each sec the PSI seemed to jump up until it would not go any higher. All readings were above 145psi's but occasionally I would get a reading of 180psi. I tested that cylinder again and got a reading of 150psi. Am I doing something wrong?