Posted by not done it yet on 17/02/2021 14:36:02:
The compression ratio for some engines of that era were not high. I have come across engines with a CR ratio of 4.1:1.
That may not be appropriate to a small scale model, mind.
My little horizontal engine is designed with 4:1 compression ratio, and runs quite happily with noticeable compression/bounce when flipped over (~21mm bore).
Leaky valves seem a likely suspect.