Trying to diagnose a uniform low compression problem (115- 120) on all cylinders. Pulled the intake and found a small cup on the famous #3 exhaust lifter. All other lifters look fine and visual inspection of the cam shows no wiped lobe. All lifters look to be moving the same amount. However, I have been getting a bunch of grey sludge on the magnetic drain plug for a while now. My queston is: with a dial indicator can I measure the amount of travel the lifters move up to determine if the cam is worn? If so, what numbers (intake and exhaust) am I looking for. Or is it easier to measure rocker arm movement?