I'm working on a 64 Nova with what I believe is a 230 according to the casting numbers-block 3850817, head 3824437. The bore is 3.905" so it looks to have been bored once. Compression was 120-125 psi in all cylinders before I took it apart. The piston in #5 looks to have a white residue like it's running lean. Why would only one cylinder be lean-bad valve stem seal?

Also, the exhaust valve in #2 is seated a lot lower than all the others. The rest are flush or above the level of the casting around it. Does that mean anything? Any observations would be appreciated.

This picture shows 3, 4, 5, & 6.

This shows the valves on #1 & 2