Hello to you. Where are you in Alberta I'am up in Edmonton.Have you been to the track alot this year? 12.98 at 110 on 8psi is that on a stock motor? I'am just getting my car back together hopefully in time for the last of the friday night drags at castrol.
I would do a leak down test first it will tell you two things.
1 It will tell you the percent of leak down going pass the rings into the crankcase.
2 It will also tell you if you have any other issues with the valve seats or valve stem to guild clearance. Put your hand over the fill cap...