I would not refer to that oil pressure as "good", I would go with " terrifyingly high". 

If it were 7psi I'd call it acceptable. If it were 14psi I'd call it great. 
60psi at hot idle is crazy. 

You can run it until it goes boom. 
 Check the valve adjustment, it may be off and you can restore that cylinder with a bit of tune up. 

-craig

> On May 24, 2014, at 12:30 PM, Loren Busch <starwagen@GMAIL.COM> wrote:
> 
> In a '90 Westy, stock 2.1L WBX with 185k miles, auto tranny
> 
> Recent compression test is 150, 145, 135, 70.  Number one is 70.
> So, two questions.
> How long can I drive with this condition before I have major problems?
> And second, what is my best solution to this.
> BTW, oil pressure is good, 60 psi at idle warm.