Oil leak is likely the valve cover. Wipe the mess clean with mineral oil or kerosene, tighten the stews, run it, and check it again. As for the misfires; such is not a symptom of low compression, but rather an ignition problem. I post the below file often for problems like yours:
Your’s could be a common problem and don’t cost anything to check.
Try this:
Watch the tach when cranking if it don’t move you're not getting pulses from the distributor. If so, it could be a faulty module in it or more likely simply corroded connectors at the base of the distributor. Re-seating those connectors a few times could clean the pins some and also do the same to the connectors on the coil etc. These cars are old, and old connectors corrode. Such can also manifest itself as intermittent misfires, and engine cutouts.
BTW: lots of folks keep replacing modules and coils thinking they are bad because the new ones FIX the problem, when in actuality the fact that they simply unpluged the connectors and repluged them into the new unit cleaned the contacts enough to make it work again, at least for a while. It's smart, to replace those old connectors with new ones.
BTW: Cliphouse has those connectors Misfires are more likely ignition related than a low compression issue.
Additionally: Here's anther test you can do; with the engine warmed up and running, pull one plug wire at time and listen for a drop in RPMs. Any cylinder that does NOT drop RPM with the plug wire off has a problem. You can swap plug wires/spark plugs to determine which is at fault. Be aware; a weak plug or wire may work fine at idle yet fail under load.
[This message has been edited by Francis T (edited 12-20-2014).]
