Jim is right but I think they they are discontinuing the 150 series which is probably what you have. But I do think you can still buy pads for them on ebay the last ones I bought were called the soft pads and I found them to work way better.
The oil is probably somebody set the engine upside down or leaned it one way really far just a guess. Im sure the engine is good to go because if I had 200 hrs smoh and there was an issue I would not sell the engine I would send it back. And I think Pete who would have been in charge at that time would have taken care of it. Compression checks are really only accurate on hot engines. Your finger over each plug hole will tell you alot. Good luck these engines are built really well And I sure do like mine.
1 inch is alot it might make it difficult to keep the ball centered during strait flight. But if you pulled a string from tip to tip and your strait with the front spar carry through should be square with the fuselage. Hope you have the right edge distance yet on your front spar pin. I think I would try to fudge it all a bit, move one wing back and the other forward Try to get with in a half inch at least. Don't think the fuselage cares if its flying strait the wings should fly strait with the rudder.
Here is an educational video that I made for this Not the best quality but might give you some inspiration. Any local welding shop could help you out with this fix too. https://www.youtube.com/watch?v=ipAmL6fzW1I
Never thought I would ever hear anyone recommend Ethanol. I don't know much bout the octane levels but the garbage we get around here if it sits in a carburetor bowl for more than 6 months it turns to a orange yellow sludge. 91oct premium does not.