Hi Curt,
First you have a compression problem, 180 is too much!!!! (always + or- 10%
diff. in PSI between cylinder, no more!!!) and 120 is normal for an old
engine. 180 means built up carbonization or coolant inside the cylinder
when compression was done.

For sure you have an internal coolant leak, do this test:
http://www3.sympatico.ca/huotx/pressure_test.htm

We will see after this test was done.

I would agree with Matthew on a future rebuilt project!!! That suck!
But it could only be head gasket, lower or upper one.

Regards, Ben
http://www3.sympatico.ca/huotx/engine1.htm