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Steet ported engine compression should still be 100+psi. It will be down on power with 60psi, but still be "fast". I drove one of my FD's with around 60-70psi all weekend at the track without issue a while back. 60psi is a big concern as that is way below spec, but even bigger is the 60-30-60 number which indicates engine damage. I'm sure some of the engine builders will chime in here with their thoughts, but it sounds like you most likely need a rebuild. since it's not 0 compression on one face, I'm going to guess a chipped apex seal, but once again... there are plenty more knowledgeable guys on here as far as engine internals go.
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