I've gotten the major leaks fixed, but the bike is still burning oil, which I would associate with poor compression.
The Guzzi is far more prone to loss of oil through the valve guides than through the rings. If you have that much compression, I'd worry about the valve guides. There are no oil seals for these guides although some clever machinists have added such. How many miles do you estimate on this motor since the heads were last re-done. The valve guides become hightly suspect after 35K miles.