I'm not sure what the 301 should return as to compression tests, BUT a 1972 Chrysler 400 2bbl spec'd at about 100psi with a rated 8.2CR. As long as the cyls are within 20psi of each other, I'd call it good. I suspect the earlier 301 and later 400 might have CRs closer to each other than suspected, which would make the later 100psi be about right.
Just some thoughts,
CBODY67