The fact the compression came up that much with some lube means the rings could have problems. If that is the case, you need a rebuild on the short block.
Being that the engine wasn't run in some time... You should have lubed the rings before any cranking. Too late now. Hopefully you didn't hurt it any.
All you can do now is give it fresh oil and coolant and see how it runs.
Expect that the water pump will probably die soon if it isn't bad now. Parked water pumps tend to build corrosion next to the seal that often ruins the thing in short order once they are running. The problem is caused by the fact that the "Antifreeze" will settle into the bottom of the cooling system over time, leaving the high parts to rot.
Dr. Ian Malcolm: Yeah, but your scientists were so preoccupied with whether or not they could, they didn't stop to think if they should.
The Ogre's Fiero Cave (It's also at the top of every forum page...)