This may not apply to OB's, but low compression readings are not uncommon for used engines that have been sitting awhile. Performing a wet compression test and a leak down would help narrow down the rings or valve train issues. As Aaron from "Fast and Loud" would say, engines, they just wanna run. Given fuel, spark, and some compression, it should at least fire. When cranking does it develop oil pressure? Does the distributor turn when cranking? Is there some relation to the rotor and #1 cylinder? Love to help, but I'm here and its there.