Thanks Bob, Jacko, Rick and Rusty.
I am using my IR Temp meter and there is very little heat on #1 header tube.
Plus I hear a weak sound on the number 1 header.
And the plug is cold, you can run the engine, remove the plug and hold in your hand.
Springs are all good, and stiff, like I use to be.....
I "may" have stumbled on the issue last night.
I loosened both the #1 adjusters on the rocker arms a turn or so.
Then I re-ran the compression test and I have good pressure again.
I installed the Cam by Jim's instructions from Racer Brown.
As it's ground and installed it's what I call very advanced.
I used a couple of different methods to set the valve clearance.
Not sure why 2-6 are doing ok, but I suspect my adjustments are not quite right.
So if I am on the right track the #1 cylinder is leaking air during the test.
Leaking because there is not enough clearance at the right time to seal the compression.
I have a procedure I created years ago from the DC sticker for V8's.
I just tweaked it for the slant firing order and instead of 90, you use 120 rotation.
That is what I have used for years, but just like the genius I am, decided to improve the wheel.
Picked up Kota from the Vet today after his nut-cutting so having to spend time with him.
Might not get back on the Colt for a few days.
I do appreciate all the thoughts about the problems I am having.
Good to know I am not alone with this issue.