I tested the compression again today with the engine warm and I let it crank 10 times instead of 5 with throttle full-open.
C1 - 112
C2 - 115
C3 - 111
C4 - 110
C5 - 115
C6 - 112
I added a capful of oil; a teaspoon, to cylinder 1 just to see what the jump might be (if totally different than before). It was less jump.
C1 - 120
Take into account elevation (but no oil added)
C1 - 132
C2 - 136
C3 - 131
C4 - 130
C5 - 136
C6 - 132
I'd say cylinder 3,4 are low due to intake valve leak. Cylinder 1,6 a exhaust valve leak, small one.
FSM range is 128 - 171.
So I believe I will take the following advice:
1. Adjust valves (which implies new valve cover gasket, spark plug gaskets and while I'm in there a new vsv for egr).
2. Add oil seperator to PCV
3. Drive a while and watch oil.
4. retest compression.
5. If still in the 130's and oil consumption is still high then drive for as long as I can bear it and get another engine.
I already talked with the wife...she is okay with another engine. I wonder though if she is aware of the turbo option...
I really don't want to buy a different 80 or a different vehicle. I've already fixed and familiarized myself with a lot of this one. I'm not going to get $$$ for all the work and parts I have in it. If a rebuilt motor would go another 300,000 then I'd be set; I'll probably have my license revoked for old age by the time I put that many miles on it.