+1

 

Given you can hear some air escaping through the valves, it seems like you'll want to remove the heads. One other thing you could try at no cost and very little time, you could go ahead and loosen the pushrods so you know for sure the valves are not being held open a bit. Repeat your air test and if it sounds the same, I would say it's time to remove the heads to inspect the valves and seats.
As suggested, you could continue looking into the 'no spark' problem and get it running, but it's not going to run as well as it should.

 

since most everything is off I'll just take the cam cover off and loosen pushrods so nothing can possibly interfere with this test that won't take long to redo if anything. If valves are leaking still, do I want to use a valve lapping compound to get it to seal better? I don't want to take this in at all I want to fix my mistakes I made.

 

Damned if my computer hasn't crashed twice while typing this up, 3rd time's a charm I hope.

If the air leak doesn't change with the pushrods loosened, I would remove the heads. See if they will hold kerosene which they probably won't if you had an audible air leak. With the observed leakage as a baseline, drop the valves for an inspection. First, see if any are bent. If they pass a roll test on a flat surface, then get a good close look at the seats and valve sealing surfaces. If there's nothing obviously wrong, give the valve grinding compound a try. Re-test with kerosene. If there's still any leakage, it's time to take the heads to an HD experienced machinist. (For many folks, that would be the first step but I understand wanting to do everything you can do yourself first.) I'm hoping it's a simple pushrod adjustment error with no valve damage...

 

thank you very much for a good explanation on everything, and a good alternative. Is kerosene only solvent or liquid that will work? My valves were definitely straight as an arrow, I was worried about this when I was building it but didn't not exactly know what I was looking for til now. One question: will I need new head gaskets after removing head and reinstalling 5 times probably?

 

@Since 1968 I remember when building, the valves on intake were NOT smooth on the surface that mates to the head. It was rough like sand kindof? I thought this was off when I was going though it but since it worked before I said I'll clean it and put it back on

 

How do you know the valves were straight as an arrow. You installed them on a fixture and indicated the face?

Add:

You lapped them into the seats.

 

no I rolled them on a flat surface and eyeballed them... I just want to be honest with everything
what do you mean lapped into the seats? I never did anything like that yet

 

I'd check the valves for straightness in case you made a significant pushrod adjustment error and had valve-piston contact. Hopefully not, but it's worth checking. If the valve seats were not smooth, that's a problem to be resolved for sure. Kerosene is desirable because it is not highly flammable like gasoline, and it's 'thin', i.e. don't use maple syrup. And, I would say you need new head gaskets. They're not cheap, hence doing the kerosene check to reduce the odds of ruining a fresh set of gaskets if your valve grinding is ineffective and the heads have to come back off for professional treatment.
Full disclosure, I'm a DIY guy with some experience, not a professional mechanic. An inspection and repair at a well equipped machine shop would do an excellent job of getting your heads 'right', if the budget will allow it. Something to consider, balancing your time versus your money..... I look forward to hearing how all this turns out.

 

if all else fails, I am willing to go to a shop to fix this. But my plan and hope was learning this all myself so I could fix any issues down the road. Like everything, I see this is not as easy as I pictured.