Get it up to temp and it will be higher. Given age of engine it likely sat so may need to free up some rings and valves once it gets going. May want to soak cylinders with marvel mystery oil and use merc pwoer tune or other top engine cleaner to get carbon out once it is running. Bottom line probably a good condition. Motor as long as nothing sticksThe motor has been pulled from boat and the pressures are tested by without being run and the motor is still code. This is Mercruiser 165 Inline 6