It has been suggested that perhaps the reeds are stuck shut? However if there isn't enough compression it wouldn't have enough oomph to suck them open would it?
Calm down Victor...................you'll give yourself a coronary Check your fuel flow first, from the vacuum tap down to the carb, sounds like it's fuel starvation. Is the plug getting wet at all? Alternatively a little trick is to hold the plug just into the hole, crank it over and see if it flashes out the hole. No flash equals no fuel.
I have bitten the bullet & bought a 70cc bigger bore kit, seeing as I was only getting a reading of 75psi from the original barrel. Does anybody know what the torgue wrench settings are for the head nuts?