The consistency of your test is good. The numbers you see suck, but can be based on the incorrect testing method. I've almost always found compression in teh 180 ballpark. But if you did two cylinders and got the same basic thing.. close enough.

I think I may have mentioned that a compression test is not going to 100% answer your question as to what is wrong. Make your choice, pull a head gasket or rent a borescope to find out if something else is wrong in that cylinder.