well as a rule they should all be within cooee of each other possibly about 165 - 175 psi depending on age of motor(which you say is old) and static compression eg.9 to 1 if it is a blow between(blown between 2 cylinders there will be two that are alot lower than the others, blown to a water jacket or oil gallery will give 1 low cylinder but with other symptoms like losing water and overheating or milky oil. if all are low it will most likely be rings worn and a rebuild will be best.
I have tested some engines where 90 psi was the best reading on all six pots(was a holden 202)
Has the gauge been skyrocketing as well as the engine being physically hot or have you got a problem with the sender wire shorting to ground?. silly question i know but i have seen rebuilds done for things as simple as that.
Happy Hunting
Pete