No .25 might be the spec for a newer cam.
Are you sure your compression gauge is correct? And I wouldn't stop cranking so fast. I let them crank until they stop climbing.
My 98 Chevy Lumina with a 3.1 and 202k miles has 180 psi just for comparison.
My 68 440 in my Satellite had about 120 psi, needed rings. I did a full rebuild. At 120 psi I don't know how many miles were on it, I'd say more than 100K but it was clean. I measured a couple of bores and came up with around .004-.006 bore taper. (they say rebore at .004, I wouldn't be afraid to re-ring it but I wanted a fresh engine for once).
Less than 100 is bad news bears. Maybe they used the wrong size rings or something, or maybe never seated them properly and glazed the bore.