It depends on what caused the low compression. If the cylinders look ok and it just needed to be cleaned up with new rings and head "o" rings and gaskets, your ready to go. If the engine experienced a seizure, than it might need to be bored and new top end. The ideal psi is 150 psi per cylinder. If it is less than 100 psi each, it is time to do some repairs. The compression should be close to each other like say 130 psi and 128 psi. If it's like 130 psi and 70 psi...you have problems. The cylinders didn't wear the same.
Karl