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Welcome, it does sound like rebuild time unfortunately. Compression loss is likely due to damaged/bad apex seals and probably damage to the housings. They are great cars, but have their faults, especially the first generation RX-8s. Definitely go with a reputable builder, not just a local garage. There are numerous horror stories from folks using people not familiar with rotary engines. The up side is that there is a lot of interest and support for the rotary in California. Due to the specialty nature of the car repairs are not typically cheap, although they tend to be cheaper than high end european cars.
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