Rings won't blow back out the carb. Will blow by the rings into the crank case. If you have access to a cylinder leak down tester it would tell you if it is leaking by the valve or the rings.
What is really good compression? Oh and those old opposed twins had a problem with valve sets coming out. Check Compression Briggs & Stratton does not publish any compression pressures, as it is extremely difficult to obtain an accurate reading without special equipment. It has been determined through testing, a simple and accurate indication of compression can be made as follows: Remove both spark plugs and insert a compression gauge into either cylinder (one cylinder at a time). Open throttle wide open and choke open. Turn engine over with engine starter until there is no further increase in pressure. Record this reading. Repeat procedure on other cylinder and record that reading. The difference between both cylinders should not exceed 25%. More than 25% indicates loss of compression in the cylinder with lower pressure. See example. Example: Cyl. #1 Cyl. #2 Diff. % Diff. Eng. #1 65 PSI 60 PSI 5 PSI 7.6% Eng. #2 75 PSI 55 PSI 20 PSI 26.7% If compression is poor, look for – 1. Loose cylinder head bolts 2. Blown head gasket 3. Burned valves, valve seats and/or loose valve seats 4. Insufficient tappet clearance 5. Warped cylinder head 6. Warped valve stems 7. Worn bore and/or rings 8. Broken connecting rods Cylinder Leakdown Test The cylinder leakdown tester, Tool # 19413, may be used to test the sealing capability of the compression components of each cylinder and quickly identify the problem component.