I was thinking of maybe the rings if the jug has to be pulled and the piston is removed. Adding new rings would take like ten minutes.
If you stick new rings in, the cylinder has to be honed or the new rings will never seat. The cylinder and rings have to chew on each other for awhile to get a decent seal between them, and a glazed cylinder isn't going to do that.
Intake valve leaking?? Very unusual. They don't usually burn because they run so cool. A quick look at the valve and seat should tell you whether:
-The guide is worn and the valve isn't seating square and has worn the seat oval, or
-There's a chunk of lead or carbon stuck to the seat or valve face, or
-The valve seat or face is corroded and pitted, or
-The valve is burned because the hydraulic lifter's piston is seized and not letting the valve seat properly.
Putting some pressure on the cylinder (with the differential tester) and striking the valve stem (rocker end) with a rubber mallet can often dislodge carbon or other crud. If this compression has been dropping steadily after several runs, though, I doubt that it's anything so simple. Still, a quick valve and seat grind should fix it. It's not totally shot if there's still 30/80.
How old is the engine? Lycoming had poor valve guides up until late '98 or early '99. Exhaust valves, especially, would end up striking the seats off-center and wearing themselves out.
Dan