So I disassembled the top end yesterday expecting to find a broken ring or a hole in the piston or something really bad, but it didn't look all that bad.  The piston and head looked great.  There was no sign of detonation or physical damage to the top of the piston.  Both rings were in place but the top ring was stuck in the groove on one end. I'm assuming the stuck ring is why I had very little compression.  The guy I bought it from says it was running fine right before I bought it, and then just lost compression.  I'm thinking I could put in some new rings and hone the cylinder and out it back together and run it for a while.  What do you guys think?  Sound like a reasonable plan?  If I have to do much more, like splitting the cases, I'll need to take it to a shop.  Thanks for any info or suggestions.