papajam

I guess 110 psi would be OK for a closed throttle comp test but not for an open throttle test. For an open throttle test, expect to see like 140-150 to as high as 200 psi. The wide range, and the reason there's no specific number, is because of all the variables like valve clearance, cam timing, cam profile, battery, starter and cable condition, coked chambers, skimmed head, etc. that all play a role in static compression readings.
The two most common causes for burned valves are insufficient valve clearance and/or a weak mixture. Since only loose valves make noise, and with yours being slightly noisey, that would seem to rule out a valve clearance issue (although a worn cam lobe and/or follower could cause the noise too). So if the valve is burned, for a second time, I'd suspect the root cause to be fuel mixture related.
Good luck!!

Jim
68 Mk1 Italian delivery
71 Mk2 US delivery
89 Spider Veloce