Miller Trailblazer, Need advice/opinions on what to do....

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I have a Miller Trailblazer 301G on my truck.  I'm a mechanic, so it only sees infrequent usage.  It's only got about 12 hours on it.  It's sick.....This was on my boss's old truck.  He wrecked that truck and bought this welder back from his insurance company for a couple hundred bucks.  It needed pretty much all new tins.  It sat in his garage for a couple of years until we decided to put it on my service truck.  We replaced most of the sheet metal, changed the oil and fuel.  She fired right up and laid a nice bead.I've put about 4 hours on it from that point.  Turned around the other day and noticed the dipstick was up and waving around, oil everywhere.  I checked the compression, it was low.  Leak down is not giving positive results.  I am figuring that in the couple of years it sat, it must have gotten some rust on the rings or something. What would you do at this point?  Tackle it yourself?  Back to Miller?  Local small engine repair shop?  What do you think it's worth in present condition?
Reply:fill the cyl with some aerokroil or onetrating oil fior a day or 2 and then change the oil nad try again..ya might get lucky and itll just smoke some...runa chitload of transmisson fluid thru it while its wide open and good and hot...thru the carb..ya mite git lucky
Reply:The Kroil is a good idea except I would leave it there longer, maybe a week or two and roll the motor over a little now and then. Be carefull to dry the motor out enough not to get a hydraulic lock when you do go to start it.
Reply:Originally Posted by lars66The Kroil is a good idea except I would leave it there longer, maybe a week or two and roll the motor over a little now and then. Be carefull to dry the motor out enough not to get a hydraulic lock when you do go to start it.
Reply:Originally Posted by jmtebbensHow bout I pull the sparkplugs out when I crank it.  I'm gonna fill it up tomoroow morning and we'll see what happens.
Reply:fill em thru the spark plug holes and then screw em back in til yer ready to hand crank it over after removing them....once ya giot most of it out then use the starter motor to crank it ...flush em again real good to get the abrasive rust out and then change the oil....once all this is done itll smoke like all hell fer awhile probly..if it does..dribble a little water or trans fluid into the carb when its wide open and see if it cleans up the oil smoke.good luckgary