My experience w/ most flathead motors is that they all stick one way or the other, especially after many years of idle sitting. Low compression is not neccessarily uncommon nor dreadful. If the rings are sticking, she may loosen up after a short run. Compression can be regained initially by adding some engine oil to each cylinder and replacing the plugs before firing. Worst case scenario is that your motor is NFG anyway and going to require a rebuild so trying to start it up really isn't much of a gamble. I have a M37 which had an apparently bad engine and crappy compression and found it to run better and better the more I run it. Like the Ford, it is a flathead as well and as such is subject to the same demons. Good luck.
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