New R cold compression

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I bought a 87 250r yesterday The guy I bought it from didnt know much about it. It was sitting in his garage for a year now. It is haveing electrical issues and gets no spark. What he recalled is the motor was sent to ESR and a 4mm crank was put in it and the cylinder was ported for the stroker and a ESR head was put on but he could not remember what dome is in it. I am new to 250rs does this sound right? I thought you had to run a spacer plate but this motor has no spacer plate. I did a cold compression check on it and the guage read 175lbs. How much of a diff is a hot check going to make? I am wondering because when I get it started if it goes up much more I know I am bordering race gas.
I think I got a killer deal on it especailly with all the after market parts and hopefully the engine too.

Here is a couple pics of the R the mods on it are the said motor above (hopefully) ESR reed cage, ESR air box elim w/K&N pod, ESR TRX5 centermount exhaust, +3+1 aarms, elka comp adj piggy back shocks, chrome steering stem, steel braided lines, PWR radiator, renthal bars, adj levers, AC nerfs w/ built in pegs, 88-89 swingarm, rebuilt valved rear shock, +4 rear axle, fullbore plastics and alot of other stuff I cant think of right now.

http://i119.photobucket.com/albums/o123/trappm/Picture006.jpg

http://i119.photobucket.com/albums/o123/trappm/Picture004.jpg

http://i119.photobucket.com/albums/o123/trappm/Picture002.jpg