Those exhaust valves are a little too tight for me. I usually set the intake to .003 and the exhaust to .004 to be sure they close after the engine gets hot to prevent burning a valve. They may be fine, but now it is time to do a leak test.
If you can't borrow, or get access to a leak down tester, you may be able to find out all you need to know by just putting some air in the cylinders, and listening for where it goes if there is a big leak.
The 10mm connector or adapter from the compression tester you used can probably be connected to an air hose with some adapters. Screw the 10mm connector into a spark plug hole and add some air pressure. It won't take a lot of pressure to hear where the leak is if you have a problem. Be sure both intake and exhaust valves are closed, i.e. loose rockers. It is best to do it at TDC so the air won't try to push the piston down, and it is easier to hold the flywheel and prevent rotation.
Air coming out the exhaust is an exhaust valve leak. Air coming through the carb is an intake valve leak, pull the air filter so you can hear it. Air coming out of the crankcase is bad rings or pistons, pull the oil dipstick so you can hear it. Air coming out around the valve stems in the head is valve seal leakage.
A true leak down test would measure the amount of leakage, but you are just looking for excessive leakage at this point. If you have a bad problem, you should be able to hear where the air is going. Google leak down test and you should be able to find more info, and youtube videos.
1999 Honda Rebel CMX250C
2003 Harley Sportster 883 Hugger
1998 Harley FXDWG Dyna Wide Glide
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