Before beleiving your compression test, I would pre~pressurise the oil system...one lifter with air in it could do a lot to your readings.
A leakdown check will test your valve.

I have had some good luck with 'sat' engines, Recently got a 72 454 Chevy which sat for 10 years without moving, unknown if it was run at all, certainly not in years(rats had filled the driver seat and footwell). I pump-ed in some gas from a can, changed the points, and it fired on the 10th crank, and ran perfect, no smoke no knock, and the carb worked well! after we took the body to the dump, I drove the bare chassis around and did a few easy burnouts and obstacle climbs for laughs before recycling the frame for $12.

I would probably soak the cylinders in some ATF or penetrating oil to help free the rings, then run the motor gently for a bit. If it was good before, I think you should have a runner as long as storage conditions were good.