Yeah, those tight valves on #1 probably contributed to your low compression numbers. I usually don't follow manual's cam-orientation when measuring valves. I just turn cam to aim lobe away from rocker, that way I know for sure I'm measuring maximum clearance.
I use one of these tools to adjust clearance. Cinch it down 1/2-way with lever. Then do final round at very end with torque-wrench.
Engine looks clean, no sludge or brown-coating from using dino oil, it may have been well cared for. Not sure what that red is, have you drained oil to look at it?