Oh wow... haven't updated this thread in a while.
So here's what's been happening. I ran a leakdown test and didn't find any concrete answers, mostly because the adapter sucked and the compressor sucked and I was just using all shitty equipment. I'm pretty sure the head and valves are ok, though.
I started taking apart the engine down to the cams and found that very little oil had reached the VCT gear. This may have been one of the problems causing low compression in all the cylinders. I decided that instead of taking the head off, I would try redoing all the tappets, blowing out the oil passages in the intake cam, and gravity feeding oil into the VCT gear during reassembly. Do timing one more time and see what I end up with.
Right now, all the tappets are out and are being ground down to spec. I pulled the cat pipe and had Dominic weld in a bung for the wideband, and have to finish up that install. Hopefully the tappets will be here before next weekend and I can get everything put back together soon.