A compression test should be done with the choke open the throttle at full, all spark plugs removed and a good battery.
2 tests should be done, the first one dry and the second test with some oil sprayed into the cylinders.
The first test checks to overall sealing of the cylinder. The wet test will let you know if any low readings were related to valve seating or ring seating.
Did you have the manifold completely open and all of the plugs out when doing your test?
Dave Neptune
