Actually taking a compression test can help.
1st) a dry test.
2nd) add two squirts of oil in spark plug hole & re-test. Compression will be higher, but if it is very much higher, then valves are not the only issue. Aluminum sleeve blocks do wear easier.
What happens to the valves is they beat themselves deeper into their seats, reducing & /or elimintaing the necessary valve lash clearance, so compression drops. Fix is to remove one valve at a time & grind off a few thou as your situation needs (off the stem head) & replace & check for correct lash spec, w/ feeler gauge. This may take a couple times or so, but go easy, easier to remove a bit more, than to wish you could add some back.
My vintage MTD has a B&S L-head on it, & it still cuts decent with only 50 psi compression. Although mine is slated for replacement this season.