Car will not start

My suggestion is that the gear has slipped just enough ° to drop the compression but still rotate it. If so it is begining to fail. 40psi is close to the point of no longer firing because of the retarded valve timing.
 
Update Got the manifolds re-surfaced and installed. Discovered a problem with the carb and got that sorted. Car now runs just like it should Thanks again for all the assistance
 
Kent thanks for posting your results:

Please describe the carb problem so we all can add to the collective group experience from your individual experience.
 
If you had your exhaust intake manifold combined machined flat do not use the rings before installing the maifold. Use a A9433B gasket dry. If the counter bored holes in the block and manifold are not deep enough the rings will prevent the manifold from sealing properly. I like using the A9433B gasket because it locates exactly with the 4 manifold studs.
 
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