Here is a stab at what I think your problem may be for what it is worth.
You say that your engine has stood idle for a number of years. It is quite
possible that one of the valves on number two piston was left in the open
position while standing. If so a build up of rust on the valve seat would be
a possibility. Dependant on how severe this rusting is will decide what to
do next. Give the engine a good rev or if possible a good run on the road
and try the compressions again. If there is no improvement then as another
lister stated it may be a burnt valve or a badly pitted seat. Have you
converted to hardened exhaust valve seats and stainless steel valves to run
unleaded? If not now is the time to do it. You do not need to do the inlets
unless they are worn to excess. Just recut the inlet seats, reface the
valves and lap them in by hand.
Regards
Adrian
TR4A CT64306 O
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