Thank you all... just saw these replies now (I'm a little slow...) Doesn't sound too encouraging for our engine running with the new base gaskets, pistons, and rings :/ ... we're fairly sure the compression tester is accurate and we were getting the same reading on both cylinders (90psi). We are going to try to check the squish clearance and do a leak down test and post those results once we do. Thanks again.
Edit: Would this be the correct procedure for doing a leak down test on this motor?: Remove one spark plug, hook up compressor with a gauge in it's place, plug up the exhaust and intake ports, put piston at TDC, block the clutch so the piston can't move, apply approx. 100psi, and watch the gauge for about 20-30 min? Repeat with other cylinder. I read about this a while ago but want to make sure I'm remembering correctly.
Also... would a leak down test even be useful at this point... we know that the new pistons/rings have not seated yet so wouldn't we expect there to be too much leak down until we run the motor and they (hopefully) seat?