Compression readings are relative to the elevation altitude of the vehicle when the test is done. Most of the specs usually indicate "At or near sea level". As long as the readings are within about 20psi, all is good.
When I was "worried" about cylinder wear on our '66 Newport 383 2bbl, I got a screw-in hose compression gauge. Readings were slightly lower than spec, but even. Engine ran smooth. Started well and got the same mpg as when it was much younger. I did that check after it was well past 100K miles.
You can use a borescope (attaches to computer or your smartphone) to look inside the cylinder/combustion chamber. IF the oil is coming up past the oil rings, you'll see less carbon around the tops of the pistons. If it is coming in "from the top", with the piston crown consistently covered, that is valve guides and valve seals. If changing seals, seek out the ones made of orange silicone rubber.
Have you checked the hot base idle ignition timing to see if it has moved? In ANY event, a new timing chain can not hurt AND can be "insurance" against any issues from that area in the future.
Berryman's B12, used in the gas or in the motor oil, when used as directed, is a great tool to use. It's been around for over 60 years.
Get things cleaned up and THEN check for oil leaks. Might not be nearly as bad as suspected. Then look at the tune-up specs and make sure they are near-right. I have had best results in starting our Chryslers by using 1/3 throttle after an initial movement to set the automatic choke. Pre-filling the carb through the carb bowl vent, if the engine has set fora while, is much better than cranking and pumping the accel pedal.
Might need to consider replacing the fuel pump push rod, too. If you smell "gas in the oil", look about a new fuel pump. A stronger smell than normal, though.
Enjoy!
CBODY67