Ran a compression test on my 95 4.9l with 192K on it and they are as follows...
1-160
2-160
3-140
4-160
5-155
6-160

These readings are probably +/- 5 points each as I was doing it myself and was just glancing at the reading as I was cranking it. This was a dry test. I actually did #3 twice,the first time I got a 130-135.. I can't seem to find anything online with how much compression it should have. How does these numbers look to someone who knows?

 

Those numbers are about what I'd expect to see. After you get the results of a compression test the first thing you want to look at is the difference between the lowest and highest value, this shouldn't exceed about 10%. You have about a 14% difference there with #3 being 140 and several others being 160, but if it's running good I wouldn't worry bout it because the cylinders on either side of it (#2 and #4) both posted good values so it's almost certainly not problem with the head. Might just have a sticky ring, try some Seafoam thru a vacuum line.

The values themselves are fairly useful to determine overall wear... 150-160 psi is still a brand new engine to me so you're in good shape there. But really as long as you have around 120+ compression just about any gas engine will run fine. What's more important is that they're all about the same value.

EDIT: Welcome to FTE by the way!

 

Did you perform the compression test with the throttle body blades open or closed?

That will make a huge difference.

 

The throttle body was closed I guess. I pulled all plugs and the fuel pump relay and turned the engine over 4 times for each cylinder.

 

It don't really matter whether the throttle is open or closed, as long as it stays put wherever you left it and doesn't change during the test. The MAIN purpose of a compression test is to look for variations that could mean internal damage, the numerical value of each reading alone (without comparing to others) is just a "good to know" thing, the way I see it. FWIW I tried compression testing the same engine both with throttle open and throttle closed and it didn't make any difference.

As for cranking it four times... I never count revs. Too much room for error... instead I just hold the starter in til the gauge stops climbing. Remember, you ain't trying to find how many strokes it takes to get to a certain value, but rather how much pressure that cylinder can generate.

If you want a better way to determine wear on an individual cylinder, get a leakdown tester instead. Personally I don't even own one... between the vacuum gauge and compression tester I'm pretty happy.