Could be a broken valve spring. Oh wait: the broken spring on mine was the highest compression cylinder.
With this many "low" holes and a confirmed leak it's real clear this engine was revved past redline and smacked a few valves on the pistons.
My engine was destroyed when the governor failed during a SNAP emissions test. It still ran with more cracked mains, galled camshaft lobe, broken valve spring, bent valves giving low compression, and 8 cracked pistons.
Ask yourself before you bother pulling the heads "if it's worth it" to drop an engine in it. Maybe you get a short time out of rebuilt heads and then the bottom end requires repair/replacement. With the noted lifter problems IMO your odds are not very good to avoid yanking the engine for an overhaul. And then cracked mains mean you are looking for a, cheaper than a 6.2/6.5, 454 gasser to drop in.