Two things to note...Ok, ordered a proper compression tester (about time I got one anyway) and will post results here as soon as I get my hands on it. The continued input and suggestions are very much appreciated (also happy to be troubleshooting something other than just carbs for a change)
First, open the throttle, if the carb isn't already off the the engine, to allow complete cylinder filling. Second, the most accurate PSI reading will be had by placing the gauge directly in the sparkplug hole; that's usually impossible. Thus, it's possible...and likely...that the gauge number will be lower than what's actually in the cylinder. With a typical-length hose connection, 140psi+ is a good reading.
With small displacement, hose volume can and usually does affect peak gauge readings. I won't go into a mathematics lecture. Suffice it to say that 65cc displacement with 9:1 CR means 7.2cc open volume at TDC. 7cc is a tiny volume. Just adding 3cc hose volume drops CR down to 6.5:1, hence the lower-than-actual psi numbers. Most compression testers are made for use with automotive engines. When there's 500c+ cylinder displacement, hose volume becomes insignificant.