I get 125-130 (cold) on my rebuilt 140. Your compression is fine.
You could prove dirty carbs by doing a cylinder drop test at idle, although the idle jets contribute a lot to low speed running, well above idle speed.
Remove throttle cable and set idle at dockside in water to about 700 using the idle screw. If running on muffs, set to 1000-1100 to allow for backpressure difference in exhaust. Adjust and re-fit the throttle cable so it just pulls the throttle to the idle stop (adjust trunnion nut as needed).