If the engine runs decently, I would just drive it a bit.
I have seen several older engines get better compression when they are properly maintained and exercised. We had a '90 744TI that had uneven compression at 153,000 miles when we got it, but even numbers (and quite good) at 200,000 miles after a dozen 3,300 mile oil changes.
If it runs poorly or fouls plugs, I would investigate further.
Was the throttle fully open when you did the test? I have seen warnings about poor readings if the throttle is closed. I also like to run the test with all the plugs out and a well charged battery so the engine turns over smartly.
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'96 855R,'64 PV544 driver, '67 P1800 basket case, '95 855, '95 854, the first three are mine, heh, heh, 415,000 miles put on 9 bricks
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