The factory manual just lists the minimun at 110 with max variation at 40 psi.

I've got stock original pistons in my 68 340 with MP 761 mild cam (should be less than stock static compression. I got around 130-140 psi and it's a well worn motor.

IMHO, At least a leak down test needs to follow the compression test to determine a "rebuild or not" decision.

Another not too hard indication of inside worn engine parts: In a small block you can pull the lifters with just taking the valve covers and rocker arm rails off. That less than 20 bolts. Then you could look for worn lobes and beat valve tips.