Yes it is a quick easy first check , to look at the bore, rings and piston in the port hole as Tyler and Norm suggest.
The only other things to check would be the spark plug as I've had a lot that work one minute and misfire the next
so I like to use a plug out of a mower that I know runs well or try a new plug.
I would also check the head gasket isn't leaking but that will show up when doing the vacuum test.
Cheers
Max.