You didn't mention if you blocked the throttle valve all the way open when you did the compression check, if you didn't that will give you low compression (I've made that mistake before). I agree with Fasteddy, this is a very unusual situation, and from what I've heard, the timing belt jumping a tooth is very rare. You might want to get more opinions on this before you do all the work of removing the front of the engine. There might even be an easier way to verify the timing without removing the front of the engine.

90 Montero, 2dr, AT, V6, LSD, AC, KYB shocks, bouncy seat, 182K miles, JDM engine, 87 Starion seats, tow hitch
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