The only way oil is getting into your cylinders via the valves is through worn out stem seals and valve guides. If you have unburned oil coming out your exhaust, chances are strong you need to do a valve job / new seals. Bottom line is on a 40 year old bike, anything rubber is suspect, especially if it hasn't been run regularly to keep the rubber pliable with oil.
Low mileage is not always a good thing on an old bike.
The compression results could easily be caused by leaky valves. Only way to know 100% is to do a proper leak-down test to see where you have leaks.
Otherwise, get the head off, have a valve job done with new seals and put it back on. A new head gasket and time is all you lose by doing that, if it turns out you need to get into the engine for a top-end rebuild (new rings / hone minimum).