The reason you remove the spark plugs and hold throttle open is to generate crank shaft speed, since battery is the ultimate source of the speed via starter motor, it needs to be in good condition, if you are after highest numbers.
A gauge showing 140psi on a compression test might very well have higher compression than your gauge testing at 190psi, that was the point, DIYers don't calibrate test equipment often, if at all, and there is no real point to it on a compression test gauge, outside of it not working at all

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Compression test is all about even wear in the cylinders, so 140psi or 190psi is a moot point, you want all the cylinders to be 140psi or all to be 190psi within 10%.
And if compression test was done at the same time with the same equipment cylinders are of equal wear.
Leakdown would be a better test of worn out engine, leaky rings or valve seats.
If you were looking for a slipped timing belt or chain then getting correct psi would be more important, general rule is 18.3 x (compression ratio) = expected test value at sea level to 2,000ft, cold test, dry
3.0l has compression ratio of 9.3:1, so 18.3 x 9.3 = 170, 170psi would be expected, if it was down at 120psi or less on all cylinders then cam timing would be suspect, or the test gauge

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My 4.0l has 9.0:1 so 18.3 x 9 = 165, I am at 300k and cylinders all test 160 to 165.
The newer materials they use for rings and valves seem to last longer.
Having less power at higher speed/RPM is a sign of restricted exhaust, engine can't get the full load of new air/fuel mix because of exhaust back pressure.
Having lower compression would show as low power across the board, not just at higher speeds, OP only mentioned top speed restriction, and people usually mention lack of acceleration as well if it is present.