In Reply to: What to do with 8N? posted by Del Huebner on February 19, 2017 at 10:14:51:
With those compression readings, I would NOT open up the engine. Pull all four spark plugs. Add some more ATF or MMO and let it set a few days. Turn it over by hand or tap starter button for small rotation. Add more ATF or MMO and soak a day or two.
Take new readings (for grins).
Once you start it again, try to lean carb (big screw). I've had bad smoke after loosening up rings and it was the carb too rich. JMHO