That is indeed good news and great progress.
The compression is obviously low and will need to be addressed (156 standard – 114 min with no more than 14 difference between cylinders). This could be down to several things but most likely will be valve clearances and/or stuck rings. Leaking head gasket could also cause this but I think you would have noticed that.
I can probably help you out with a standard frame and other parts if you need them.