That is great! Once you get it running on a regular basis, it should start to free up with use and a few oil changes, and you never know, the compression might even improve somewhat on its own. Cars get barn stored sometimes for tiny unimportant reasons. My Studebaker Wagonaire 259V8 could barely get out of its own way when I first got it, and used it infrequently over 10 years, and it smoked blue on both banks. After using it this year on a steady basis daily, it no longer smokes even on startup, and power has increased enough--maybe 25%-- that kickdown in overdrive does enough that I can pass on 2 lanes roads safely. I have put 2000 miles on it this summer. It keeps getting stronger the more I use it.
One thing to note is modern oil is now designed for cars with catalytic converters, so it is almost universally missing the zinc and phosphorus required by old flat tappet engines. If the highest API rating on is still CI, it is safe to use (good luck finding it, although some diesel/tractor/truck places might still have some) but if it has CJ even if it says CI compatible, IT IS NO GOOD!!! The old additive of Zinc and Phosphorus leaves a sacrifice coating that keeps excessive wear from happening. (THIS IS CRUCIAL, BTW, in newly rebuilt engines! There is a reason for special break-in oil.) There is a commercial product that you can get, ZDDP @ about $9 per bottle with the correct concentration about 1600 parts per etc for each and just add it to regular oil, likely 30 single weight or 10W-30 in an original engine, or 10W-30 if rebuilt, or 10W-40 if in a hot summer place. OR, you can get some of the special oils that still have the additive like old time oils. I use either Valvoline VR1 Racing Oil 20W-50 in my Studebakers (the only weight, unfortunately, available in Canada, but in the States 10W-40 is available) or go the best price regular oil and add a bottle of ZDDP other than at mid-summer. Single litres/quarts of VR-1 cost me $6.77 at my FLAPS, and I guess if I shopped around or bought it by the case I'd get a better price, but each change is $30-40 dollars, depending how many quarts it takes which isn't too bad if you do your own oil changes.
Another consideration: does your car have an oil filter or not? If not, change your oil more often. If there is a filter (my 49 K has it) it might be a 'partial flow' type, so not quite as filtered as a full flow type. My two 57 Studebaker Champion sixes don't have oil filters, so you change oil every 3000 miles or so. My 63 Wagonaire V8 has a full flow block and a real filter, so it can go longer. Another thing I add with every oil change is some STP, because it leaves a 'sticky' film on the inside of the engine, which helps with the lubrication on startup until pressure builds, or if sits for several days or a week between drives. This might help a little tiny bit with your compression problem too, until the rings and valves guides and everything loses some of the varnish and gunk.
Hope this helps. Everyone feel free to chime in and make corrections or additions. I don't know very much about Continental engines as such, having spent more time with Studebakers.
Cheers, Jim
