Re: **cooling system issue**
Could be carbon buildup. Your compression numbers aren't the greatest, but about what I'd expect to see in an old engine. I'd expect to see something like 150 psi on a new/rebuilt engine. It looks like at least the head is going to have to come off for either a gasket replacement or possibly a valve job, plus draining the contaminated oil.
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~Steven
'70 Chevy 3/4T Longhorn CST 402/400/3.56 Custom Camper
Simi Valley, CA
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