Thanks every one for the suggestions. I will go ahead and do a valve adjustment. I just got through bending some 14 mm wrenches I got from Habor Freight to make a set of adjusting wrenches based on some drawings one of the members of this board posted. They were pretty easy to bend with a vise and propane tourch. There is a sale at Harbor Freight right now and a set of 9 metric wrenches from 6mm to 19mm is only $6. I bought two and used the 14 mm wrenches to make the adjusting set. Beats the $80 I have seen for sets advertized on eBay. Not that I think the people that are offering those are ripping anyone off. If I had to pay myself wages I would probably have to charge something like that too to put a set on the market. Still, it shows what you can get by with for a little thought and some work.
Any way, I will do the valve adjustment and recheck the compression. If the compressin in # 3 comes up appreciatively I will try changing the filters and see If I can't get it to start. I was preparred to change out engines, but if a little adjustment will work it will save me quite a bit.
Thanks every one for the help.