Not sure what the stated compression is for your engine, but I have a 91' Johnson 200 and the compression is in the mid 90's...right where it's supposed to be. I really would't worry too much at this point about if your compression is too low ot too high. What you want to see is even compression within a few pounds over all cylinders. Anything more than 10 lbs difference can be an indication of possible trouble. Additionally, remember that a proper compression test is done on a warmed up engine... since you cannot do that don't be fearful if your numbers are a little low...
As far as the tilt tube goes, glad you got the cable out... squirt some WD40 down the tube, and like MJ said, run a 12 ga shotgun wirebrush down and back. I like to hook mine up to my electric drill so I get a spiral effect while I'm ramming the cleaning rod in and out. Makes short work of the cleaning process...
The "tiller" has been discussed at length already, I agree with what everyone else has said... lots of rust buster type fluids, (PB Blaster, Kroil, WD40), light taps, constant pressure. Move it back and forth and let the oils do their thing.. And a heat gun, not a torch will help out... (You have to be careful with a torch with all the oils around... don't want to start a fire or melt something
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1987 V20 w/1987 150HP Yamaha on a Shoreland'r Trailer
1978 16.5 Airslot w/1996 120HP Force on a Four Winns trailer
1996 V21 w/1993 200HP Mercury on a Shoreline Trailer
All towed by a 5.7L Hemi Durango.
If God didn't have a purpose for us we wouldn't be here, so
Live simply, Love generously, Care deeply, Speak kindly.
(Leave the rest to God) 
Silence, in the face of evil, is itself evil. Not to speak is to speak, not to act is to act. God will not hold us guiltless.
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