We were in the process of finishing up the annual on our PA32-260 and everything was going well. Too well it seemed... The last thing we were were going to do before closing everything up and signing off the annual was to do the compression test. Just our luck, one of the cylinders came back at 40psi! I understand this is a static test but for the life of me, there was no change in performance that I could perceive. We flew the aircraft just under 100 hours this past year. Average flight was 3 hours at a time. Climb, level off and cruise. Plugs were surprising foot balled compared to last year. Now to tear off the cylinder and send it out. Oh well, it's only money right?