Those compresion readings are great for that engine.
If you can crank it over, why not fire it up?
Yes even out of the car.
Hook up the coil, hook up an oil pressure gauge, run the hot wire from a jumper cable to the hot side of the coil (+ or - ground?)
Hook the hot jumper to the starter terminal, use the ground jumper and hit the ground of the starter to spin it over. Remove the carb float bowls, fill the bowls with fresh gas, have a fire extinquisher handy, set the gas can far away from the engine and fire it up. Keep a hand on top of the rocker cover so it doesn't jump all over or tie it down, they don't move that much but it could vibrate across the floor if it has a bad miss.
Do NOT run it very long with no water, when the floats are empty, that was long enough. Wait for it to cool completely before starting it again. Be sure to keep an eye on the oil pressure gauge when it starts.
I do this all the time and the old lady across the street loves watching an engine run while just sitting out side of the car on the garage floor