I'm trying to start it using a drill, so I'm spinning it really fast but nothing. Not even with starter fluid, WD-40, nothing. I just used the same gauge to check compression on my Peugeot and it was reading about the same... 80... and it starts fine. I agree with you it could be the compression but that's puzzling me.
Since it won't even pop with starter fluid, I'm wondering if there's a chance the spark is going away when I insert the plug into the spark plug hole? Not sure if this is a possibility - could it be that I see a nice spark when I do a test, but when put into the cylinder it could somehow kill it?
Also is it possible that it wouldn't start if timing was off? I'll re-check timing but I would think it would at least start? (edited)