Everyone seems to have an idea what is considered and Overhauled Engine.

If you were to buy an Overhauled Engine from let us say Metric Motors you would expect new Pistons, Sleeves, Bearings and so on and a rebuilt cylinder Head with new Valve guides.
Point; if any thing less the Metric Motors was done don't expect the same results.

Also you can't expect the Cold Compression reading to compare to the Hot one in the Manual.

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84 300D, 82 Volvo 244Gl Diesel