It doesn't sound like ignition but, you never know.
I always, always start with the valves, especially if it is a quiet engine. Engine should be cold, day old cold. First, retorque the head if you have no record of it having been done. To check the clearances put it in fourth and push the car forward/backward to turn the engine. Do NOT turn the engine using the camshaft pulley nut. Get the valves "rocking" on a cylinder and the adjust its pair. So, #1 cylinder rocking (exhaust closing/intake opening), adjust #4. #1 - #4 and #2 - #3 are paired.
Button it back up and warm-up the engine.
Now test your compression.
Still low? Get a plastic glass of water. Run the engine up 1500 rpm. Slowly dribble the water down the primary side of the carb. You will have to open the throttle to keep it running. Run a 1/4 to a 1/3 of a litre through. Keep it running afterwards until it settles.
Test your compression again. Hopefully better.