Compression test on a 360, result OK or not?

Always one in every crowd. Killjoy. lol
40k on stock timing, mystery gas and unknown usage. Numbers vary by 10psi on a few cylinders.
So in my mind there's two options..
option 1 continue driving it down hill to a costly rebuild.
Option 2 Spend 300.00 on rings, gaskets, oil pump, timing chain, bearings and make it fresh with a hone/glaze break.

It could run okay, though he says hes chasing some issue.. but then again... the bearings could be disintegrating from corrosion and oil contaminants...from sitting with condensation over nite ...for years.. idk where the motor has been to only have 40 k from 1979...that's like 900 miles a year...or 2-3 years driving and 38-39 yrs sitting.
Maybe it was climate controlled...yeah.
I've had old motors that sat for decades... lose rod bearings after some lead footing .

Food for thought.