What Steve said - atmospheric pressure is 14.7 lbs per square inch. If you had an engine of compression ratio of 10:1 then the engine is compressing the air 10 times so 14.7 would give a theortical compression psi of 147 on you compression meter but as the links say they are reasons it may be a lit less.
So for your 8.13:1 standard low compression rover engine at tdc on the compression stroke you will have 8.13x14.7= 119.5 psi on your compression gauge - it will be a bit less on a perfect engine and a lot less if the engine is old and worn.
Maybe it has been rebuilt or had a over heating episode at some stage. Does your engine number have the dot matrix style of engine number or one that has been stamped on?? I guess 80s engines were all stamped and maybe not the did not stamp the CR on it. Not sure about very early v8s.
Cheers
Garry

