Well i just came across the engine compression and leakdown thread.
The good news... it's not the head or gasket as i just replaced both of those. (engnbldr head, 268 cam, arp studs, new HG.)
The bad news... I didn't know the factory specs for compression. I measured mine at 120psi. Did the math and came up with VERY low compression figures. I just figured i did the math wrong. now looking at the above thread and what is average for these motors...CRAP!
This is EXTREMELY frustraiting as i just spent ~$1500 putting in the new head, studs, vacuum lines, clutch as well as other misc stuff. This past time was the 3rd time in two years tearing the motor down. I've had such bad luck with this motor. I'm really not sure if i want to spend the money to fix it this time.