Originally Posted by Frank
Yeah, if you've got compression loss and oil coming out around the header mating surface, time to think about rings or valve guides (which do go bad on Hondas). Did you do the compression test properly with a warmed up engine and all of the plugs out? Also, did you use a new head gasket when you put the head on? Putting on an old head gasket would definitely cause compression loss
it is both the rings and valve guides. unless it is a high mileage bike i would say the valve gides more than likely. but you know since you have that much apart you should replace any gasket or seals that you have accesses to know. just a thought. may save you from haveing to go back in there for a long time.