Roy, is this where others have said oil could be getting into the fuel? Where the pump is driven?
Funola and Barry123400: I still plan on doing a follow-up compression check since I got the valves readjusted so will take a piece of white cardboard and spin the engine with the glow plugs out before I hook up the tester. I'll also note the appearance of the plugs after pulling them after engine shutdown. Between that and whatever gets sprayed on the cardboard should at least answer this line of thought. Oh the suspense!

LOL!
Zacharias: I usually don't shy from higher mileage vehicles and tend to assess condition on a number of metrics based on personal experience over the years. My first car was a '71 Ford Fairlane my Dad bought me for $25 and after driving it up and down the street for a few weeks I sold it for $380, so that may clue you into the class of vehicles I've been dealing with mostly.

My W116 runs strong but smokes a bit, didn't seem to use any measurable oil on the 70 mile drive home, and the climate control worked but there's a leak in the AC system that at the time would hold a charge for just a few days.