How many HP?
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dsmike, I'm estimating a leakdown of around 30%. I leakdown test would tell you where the leak is. You could have a broken ring, but I'd expect blow-by or oil burning/blue smoke. If the head was no longer sealing perfectly, this might explain the lower cranking compression, but I'd expect coolant blowing out of radiator cap at full throttle. With the motor 100% cold, if you remove the radiator cap slowly and listen for air escaping, if you hear any air escape (and see coolant level down a little in the radiator) the head probably is leaking. 30% leakdown sounds like a lot for worn rings on a 4-stroke. You could try adding a LITTLE oil to the cylinder and repeat comprerssion test. If there is a dramatic change it is worn rings. You could have a slightly bent valve or a valve that is worn. If your not running a top-lube I highly recommend it. Alcohol is too dry to run without it.
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