160 cranking psi; advance the cam or run it?

You need to warm the motor to 170*-190*. Remove all the spark plugs. Block the throttle wide open. Then redo the cranking compression test. This is the correct procedure. http://www.gregsengine.com/cylinder-compression-testing.html
I bet your compression comes up when done this way. Cranking compression testing is very under utilized in testing the outcome of various valve timing mods.