Check your oil flow when it is back together, as your cam is worn for quite
possibly a lack of oil.
Cylinder leakdown test sounds right. Make sure both valves are closed, then
listen for air moving
into the exhaust or intake manifold. If both valves are closed and you hear air
moving, then you
have a valve issue. I have seen an old crusty engine have a piece of carbon
lodge in a valve,
killing compression. Check that too.
Please include an edited copy of the original
poster's inquiry above your response so other
newsgroup readers can understand the problem
and benefit from your knowledge. This is basic