[Bob Bidonde]

Your compression numbers are horrible, so it's no wonder that engine lacks power. You need to correct the compression. Considering you have already run the engine, I doubt the piston rings are not doing their job.
If this car were mine, I would try adding a jar of Barr's Stop Leak with pellets. Follow Barr's directions. Let the engine cool to room temperature and check the compression again. If the numbers improve, you have compression leakages, perhaps from a corroded head gasket or pits in the head & deck surfaces.