125 is the least
I should be equal on all cylenders and about 110 to 120
should be at least 100 PSI and the difference between cylinders should be less than 10% of each
I have a 2005 and compression should be close to 120 psi. Normally a good engine will have compression between 115 and 130 psi but a leak down test should be performed also to know the full condition of a cylinder.
A 7.5 hp outboard will need around 90 - 100 psi of compression to start up and run. Anything over this pressure is a bonus. Also, you want there to be no more than 10 - 15 psi difference between cylinders.
.040
between 90-120
Should be right around 65 pounds
The maker points on a 9.8 hp Mercury outboard should be set to .020 in.
Back in 1978, an 80 hp Merc had compression in the 180psi range, so a high octane fuel is required. Basicly, if your readings are at least in the 110 - 120 psi range, and no more than 10 - 15 psi variance between the highest and lowest reading, you should be okay.
It should be some were between 120 to 125 on all 6. That would be on a motor in good condition. 115 to 120 is not bad. Just make sure they are witnin 20percent of one another.
Your Repair manual should contain that information.