SavageCounsel wrote on 02/07/16 at 12:06:43:Picked up the adapter. Had to bump start it cold going down hill with the tank off. It was a lot of fun. Got a clean read of 120. What next?
You have me a bit confused.....why did you need to bump start the engine with the tank off to get a compression test? Normally the test is done using the starter button.....you did the test by pushing the bike in gear?
A reading of 120 psi is really low. If that reading is accurate, that is a low of compression and I am surprised the bike will start. That low compression, along with the oil burning indicates your piston/rings/cylinder are not in good shape.
It is time for you to decide what to do. Do you have the ability to take the engine out of the frame, remove the head and cylinder, and put it all back to together again? Is the bike worth spending $ 400 to get a good used stock piston/cylinder and the needed gaskets - or $ 800 for the parts needed to install a Wiseco? Likely you can buy a good late model 5 speed engine for a similar price - and it will have the starter torque limiter to help prevent broken pieces if the engine were to kick backwards on the shutdown.
Or....do you part out the bike and buy another one that requires little or no work? In this area $ 1,500 - $ 2,000 can buy a very nice used bike that is ready to ride.