Was the cylinder bored or at least honed for the new piston. It sounds like your not getting a good ring seal to start with.
You should be in the 140 s for compression. On a stock cylinder unless it a ported cylinder and a stock head then you will read low.

Did you do a leak down test ? Are the crank seals in good condition. If the crank seal on the clutch side is bad it will suck oil and smoke like hell and not run rite.