Here's what I know:
-carb is clean
-exhaust is clean - I pulled it off and it actually started very briefly for about 2 seconds and cut out again, but I haven't been able to do it again
-it's not a fuel issue because the plug is wet when I remove it, and also it will not start with starter fluid
-spark seems fine, blue and nice and consistent
Just borrowed a compression tester and it's barely reading 80 PSI - this points to an obvious compression issue right? What would be some steps to try to fix this?
Also a question re timing - I believe the timing is ok, but even if it is off it should still start right? Maybe not perform well but still at least start, especially with starter fluid?
Thanks as always for all of the help.