Yes I agree, always good for more ideas.
Bad Piston , compression going from the top of the piston into the crankcase making crankcase pressure, can be anywhere form a hole in the piston, bad cylinder walls, worn out rings. Start with Tinkerer's idea first, over filled with oil because you did say it ran good. Piston would be the last thing to check. A good test for the piston is called a leak down test.