<VV> Newbie help

[Joe Hennerfeind]

Thanks for all the responses last week about me shearing off the spark plug in my 65 140 Corsa.  No new news on that repair, although I did manage to break the screw extractor in the remains of the spark plug! Looks like head removal will be next.
On another note, I picked up a 66 Monza 110 PG on a whim (darn you craigslist).  Completely and utterly rust free.  I am trying to assess the motor that was running recently but smoking out the passenger side.  Compression reading were in the 120-145 range on the drivers side.#1 was at 60, #3 was at 120, and #5 was at zero. #5 sparkplug was oily but all others looked good.  Removed the valve cover to find that the #5 intake rocker had spun off the pushrod, but the nut does not look like it has moved.  When I put the rocker back, the pushrod does not seem to be extended enough to seat the rocker.  What is my next step?  Can I assume the 60lbs pressure in #1 is a completely different issue?
Thanks, Joe