it's almost deceased. Only a /6 could still run with it that low. You might adj the valves, .010" intake/.020" ex and I like to loosen the plugs several turns then tighten them up & reinstall the plug wires & start it & rev it to blow the loosened carbon chips out which can lodge under a valve & give a false low reading (but not low like you have) & only takes an extra minute or 2 when doing a compression test.