[Roadsters] Compression test re: engine health

[Ritchie Labate]

Being a new Roadster owner ('68 2000), I'd like to assess the general health condition of the engine. I've rebuilt the distributor, replaced the plugs, coil (MSD), and wires (MSD). I checked the compression today and each cylinder registered 145 psi after 5 cranks. Is this acceptable? What would a leak-down test determine compared to todays test? How do I perform such a test? The car doesn't burn any oil but occasionally blows some smoke (running very rich, need to replace carbs). What is the tell-tale diagnostic that would reveal serious engine concerns/rebuild?
   
  Thanks!!
   
  Ritch