I was going to adjust the valves on my 70 240 I bought last year. As a matter of course I checked the compression at the same time. The first 5 cylinders were 185 to 187 psi at a warm to touch engine. Number 6 was 160+ and the plug was white. Number 6 is obviously running too hot. No oil in the water or water in the oil. I did a variation of a leak down test and air came out number 4 plug hole. It doesn't appear to be a head gasket (or at least the typical failure), but I am not sure what it is. The valves did not seem really screwed up. Anyone have any ideas? I would really appreciate it.