The 35 hours figure comes from a digital read from the engine. Based
on the condition of the boat, I believe it. Its been stored in dry
dock and in excellent condition.
Why didn't I question it? I'm an idiot, I guess - and I didn't note
anything from the sea trial.
My question is... what are the common causes of low compression, how
much $ to fix, and is it something that I need to address right away?

thanks