Asking for Advice Fix 273 or Replace

65DartGTConv said

The question is what defines "slight" and "sizable".

According to this guy:
http://www.gregsengine.com/cylinder-compression-testing.html

With the above said, you squirt the tablespoon of oil (SAE 30W is fine) into a cylinder that is reading low. Crank the engine two revolutions or so to spread the oil then retest the cylinder. If the compression comes up markedly, 40 PSI or more, the trouble is poor ring to bore sealing. If compression doesn't increase much, about 5 PSI, then the problem is probably with the valves. It could also be pulled head studs or a warped cylinder head.
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Looks like Greg at "gregsengine.com" and I think alike only I didn't need to be specific with the compression increase numbers. A tablespoon or a few squirts of oil to do a test like this is not rocket science and is not a specific test but just a generalization. A leakdown test would be more accurate.