I'm going to try and respond to a couple of posts here with this one so bear with me.
TURBO200R4 is right, compression tests are not evidence. They only tell you that there is a problem (if done correctly), a compression test alone doesn't tell you what the problem is.
The conditions of a compression test are not the same as a running engine, an engine that measures poor or no compression can still produce compression and power when running at speed. The engine can fire on two cylinders and the third will pick up enough to keep the engine turning over once it is running. I am really interested in what rocket would run like on two cylinders though
If you have found nothing with the bore scope you could try a leak test, basically you pressurize the cylinder with compressed air and listen to the escaping air. Air from the inlet means an inlet valve, exhaust mean exhaust valve, and from the crank breather is a piston/ring/bore issue. If you look on YouTube there should be plenty of instructional videos for a leak test, just make sure the cylinder is a BDC on compression or the engine will turn over (potentially backwards too, you don't want that).
The other thing i have seen a few times (not on a rocket though) is the throttle body being closed fully. If you form a near perfect seal on the throttle body you will get low compression results. It's a long shot but worth a quick look in my book.