Thanks, Bert. I had already tested the muffler and associated ports. All were just fine. As I stated, still no attempt to start with it off.
What is the minimum compression required to start and stay running? I just tested it and didn't get above 50 psi and wouldn't hold it for long.
Additionally, this is a Speed Start model. I have noticed what seems to be premixed fuel in the crankcase behind the Speed Start apparatus. Am assuming at this point that the rings are blown and allowing the fuel mix into the crankcase.