Another thing you may want to check is the valve clearance. AFAIK, all slant sixes used mechanical lifters. On engines that run in dusty environments,
valve clearance is ususlly the first thing to go following any dust ingestion. If I remember correctly, . 013 on the intake and . 022 on the exhaust will get you into the park. Another aid in starting an engine with poor compression is to pour some motor oil down the air intake, with the idea of temporarily sealing any compression leaks. Thirty years in the tool rental business has shown me the symptoms of dust ingestion-it can ruin some engines in less than a day.