Compressions don't necessarily mean squat. Cylinders that are pumping oil frequently have good compressions. If this is a Lycoming, it would be prudent to pull a cylinder and get a peek at the cam and lifters. The cylinders can be easily borescoped. What you find is the basis for price negotiation. Depending on the environmental storage conditions, the engine might run happily and safely for a while, or could be on the path to self-ruination in a short time. Another thing to know is how much oil this engine is using since it has started flying again. Even with an internal inspection, there are no guarantees. With any engine you didn't overhaul yourself, you should be prepared to bite the bullet to refurb and engine at any time. I personally wouldn't pay full value for any engine that was not flying regularly, regardless of what it looks like during a limited inspection.