For those of you that may still be interested in this topic, I decided to rule out the head gasket and starter o-ring, so I replaced both today with no improvement.
I'm officially calling it, this one is dead. I've got a couple of spares, so I'll just bolt one on. What do you guys do to freshen up an old running engine? Just clean the ports? Is it worth rinsing out the bottom end with fuel to wash out any debris that may have made it in?