Greg --
Ah, a 2N. (I'd love to find an authentic wartime model, i.e. magneto, steel wheels, etc., but I digress.)
Sorry if you or your friend know this but just for completeness -- when you do the compression test remove all plugs and make sure the choke and throttle are wide open. The shop manual says to do the test hot but it's useful to do one cold first, then heat the engine up and do again hot. Crank so that the gauge quits moving, at least five or six compression strokes. A good engine should develop about 100 psi although 80 psi hot is not uncommon. Each cylinder should give similar readings, say within 20 % of highest reading.
My guess is that across-the-board lack of compression is not your issue. Poor compression makes for hard starting, plug fouling and low power, but once the engine runs it runs. You said last time she ran she missed, that's probably ignition with other less probable causes being a sticky valve (which compression test will indicate) or really bad carburetor adjustment.
good luck,
Pete P.
Harborcreek, Penna.