So i decided to do a compression test today, i havnt dont one on this car ever before, but i thought it would be alright. I was basically just brousing the wiki, and found it and i decided i would do it. i wasnt expecting great results, but around average. I checked a few times, because i didnt belive what i saw.
C#1 165. C#2 160. C#3 160. C#4 wait for it.... 120 i checked a few times and just couldnt belive it. it started to rain, so im going to run to napa and get some new spark plugs and wires, because mine are terrible. but after that im bringing it into the garage and putting a bit of oil and trying it again. I need to know how much oil i should use, and with readings this bad, should i think about a rebuild soon? i want to do a rebuild on another engine in the garage oiver the winter, so maby i should start looking for onwe now. i also seem to be burning, or leaking a tiny bit of oil, so im hoping its not a head gasket. i but some oil stop leak in and it seems to not leek anymore, but i still smell oil when i turn the car off and walk by the engine bay, but the level might go down a centemeter every two months, and i change my oil by then anyways.
Im also getting a tick, its coming from the left side of the engine bay, but doesnt seem to be in the head, although it makes the most sence to me, it seems to be coming more from the intake manifold, its a really quick constant tick. any ideas? thanks.

Well i added about a 3/4th of a cap of oil in the week cylinder, and it bumped up to 180, so im guessing its my rings.

Yup... rings...

Tick could be valves. Mines has the same issue, more noticable when cold. From the factory the valve angles were kinda botched up, and they tend to 'stick' a bit. I've got an updated spec sheet .pdf somewhere on it if you want. Something like the high angle was around 46 when it should've been like 44...

Sounds like your rings in #4 are on their last leg. You should be cool to drive it for a while, though. Service limit is 100psi in any one cylinder. The 10% rule is merely a quantitative value intended to aide in diagnosis of a problem.