well, as far as I can tell- and per sprint66/steve's advice- it has to be the valve not closing. So, it looks like I will be taking it out again and giving the head a look. She was leaking pretty badly at the cylinder to lower and rocker to cylinder- so I'm not sure what I'm going to do. I have a spare runner but I really wanted to keep the engine numbers correct on this as I wanted to get it running and do a full repaint/polish.