Could it be collapsed lifters?
If it only comes about 10 more psi then don't mess with the rings. Cracked head or gasket. Just have a shop rebuild them. When I have heads or any other thing needing work I tell the fit as needed. But a shop can only tell what the cost will be once then pull them apart and clean and check them,
Sometime it's cheaper to buy another set of rebuild heads verses re-doing yours..If you didn't have the two bad cylinders I'd say put in some Sea Foam in the oil and run 200 miles or so. But your problem is way be on lifters.. After you've removed the heads, check the valve seats. I pour in a little gas or quirk start and look to see if it comes pass the valve seat down in the exh or intake runners. This will tell you how bad the seats are leaking...
Also a plugged PCV system can load the inside of the engine oil filler cap and value cover with milky moisture crap to..
My 2cent
Orich
Thanks for your comments. A set of reconditioned heads in this part of the country run around $900.00. If I had $900.00 I'd have just bought a running motor. Not trying to be rude, I'm just broke. I've not been able to work for 6 weeks now because of my truck being down.
Once this rain moves out I'll try putting some oil in the cylinders and see what happens to the compression. At this point, I think the cheapest option for me if the compression test shows that it's a head gasket problem, is to pull the heads, replace the gaskets & lifters, and hope for the best. If the heads have a crack in them, well, I'm just screwed. Maybe the great Obama has a plan for my problem...

By the way, thanks for your service. Old Navy Corpsman here.
Later,
The Fool On The Hill
Well being broke man don't make matters any better. Well then you'll have to move on to plan B meaning trying to find a good used one. Maybe locate some on bay or better yet Craig/List or put in a want ad there in the auto parts page. Some time a lot of good stuff can be found there. If this proves unfruitful well possibly a shop could just get the one head back into serviceable order for as need to get you down the road again You know..I Notice your in TN which city area?. I've been to P-Forge a few times for a couple of gun truck army reuniones. Some nice people in that state.
orich
RacinRay, you win the prize! About an inch of the head gasket between #2 & #3 cylinder was completely gone. Good call, man!
Our weather cleared up and I've been able to get back to my truck. A little oil in #2 & #3 cylinder only raised the compression about 5 or 10 PSI. I got the heads off today and there was a big chunk missing out of the head gasket between the 2 cylinders in question. The missing pice of gasket was NOT still attached to the head, and I could see signs on the head between #2 & # 3 where it looks like it had been this way for a while.
I also drained the oil pan, the oil only had about 50 miles on it, and there was just a tiny bit of water in the bottom of the pan I drained the oil into. Just some droplets really. Wasn't even enough to fill a teaspoon. So, all of that explains why I was getting so much condensation out of the exhaust and the PCV valve.
I'll get it all cleaned up over the next two days and bolted back together. I should be able to let you guys know how it's running by Tuesday. Thank you all for your help. This has been a frustrating time for me, but I guess it's better that it happened now instead of when I was in the middle of a big remodel job.
Talk with you guys in a couple of days.
The Fool On The Hill




