Engine monitors are a damn good tool to have and really help spot this stuff in advance.
Just a tip for those of you that don't know - generally if you have a compression issue that needs fixed - you can easily feel it by pulling the prop through by hand and counting the compression strokes. I've never seen a cylinder that needed fixing that you couldn't easily feel. It's also worth paying attention to things when you're cranking during start. You'll notice it there too - like Ted did.
I make a habit of pulling an engine through by hand from time to time. It's a hell of a lot faster than a compression check and tells me what I need to know.
I recently finished building my first airplane and, after I did a compression check, I was concerned about one of my cylinders. I asked a local A&P to take a look at it for me. I was thinking he was going to come over with a bunch of tools and start pulling stuff apart to "analyze" the problem.
Instead he walks into my hangar, checks the switches are off, grabs the prop and starts turning it.
"Yep, you have a problem. You may need to reset the valve lash. Call me if you need help," and walks out.
Honestly, I was thinking, "WTF?". I seriously was not sure if he was joking or not, but was too embarrassed to ask. And I did not want to impugn his judgement.
A few minutes later a very knowledgeable local pilot comes strolling in and asks, "what did he say?". So I told him the story and he said, "Yep, a good mechanic can tell by rotating the prop. You want some help re-setting the valve lash?"
"Yes please."
And resetting the VALVE lash fixed the problem (O-235-C1).
Afterwards I dropped an envelope with some cash in it to the mechanics hangar. $40 for 5 minutes of his time was totally worth it.