A couple comments, if I may...
"Oldman - NorCal" -
59.9 psi seems quite low for a Brumfield 5.9 head mounted on a healthy engine. Even a stock 4.2 CR head with a worn camshaft can produce about this amount, if not more. I see that you live in the Gold Country of California. Is that a high elevation? If so, that would help explain your low compression readings with a standard 5.9:1 CR Brumfield head. Altitude's affect on compression readings is approximately one pound (1 p.s.i.) of air lost for every 2.343 feet above sea level. Even assuming a modest 10% difference, those 59.9 psi findings are still too low. Are you certain your rings have seated properly? Did the gauge fit snugly in each spark plug hole? How confident are you that the gauge reads correctly? All these questions and suggestions made by the guys so far should be taken into consideration.
At the risk of insulting you - which is NOT my intention at all - allow me to present an excellent short explanation of how to make a compression check. These guidelines were originally offered by Larry Brumfield in past discussions on "Ahooga" and are just as valid over here on "Fordbarn". If Larry doesn't know how to correctly run a compression check, then WHO DOES???

Here are Larry's recommendations to achieve the best compression readings, "lifted" in toto (but giving author credit) so that I don't misquote:
"The following is the correct way to perform a compression test. Omitting these steps will reduce the accuracy of the results, possibly significantly. The engine must be in the state that it sees when running and the air must be allowed to flow through.
1. Make sure that the battery is a good battery and is fully charged. Make sure that the crankcase oil is of the correct viscosity.
2. Start the engine and operate it for a minimum of 30 minutes or until the engine has reached full operating temperature. Turn the engine off and remove the spark plugs.
3. Set the carb plates, throttle and choke, in the wide open position and fix them where they can’t move during the test, very important.
4. Install a compression gauge in cylinder # 1.
5. With the ignition off, crank the engine at least 5 pumping strokes and record the highest reading indicated. Note the approximate number of compression strokes required to obtain the highest reading.
6. Repeat the check on each cylinder cranking the engine with approximately the same number of compression strokes."
I offer Larry's advice not just to "oldman - Nor-Cal", but to everyone reading this. It doesn't hurt to re-read these suggestions from time to time to ensure we are all performing a compression check properly.
Marshall