Well it is possible valve wear could give such results, could also be worn rings and or bores but you did the oil test so that should eliminate that. The pressure test should be done with the engine warm and the throttle wide open, there should not be more than 5 psi difference. You could try a leak test on the head, Take the head off place upside down and level on bench pour petrol into valve chambers if the petrol leaks out the valves aren't sealing properly.
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