Don't overlook the simple things, check the obvious, the distributor could have rotated a bit and changed the timing, cracked rotor, plugged fuel filter. A leak down test will determine a lot more on engine condition than just a compression test.
Classic story. Couple years back started the car and headed for the staging lanes, puffing black smoke running like crap...... Thought about all kinds of terrible things that could have happened..... Then opened the hood and removed the shop rag that was covering the carb!!!!!!:LOL: :LOL: