You may have two separate issues going on at the same time.
With low compression on just the #1 cylinder, it may be a bad valve job on that cylinder. With regards to the oil consumption on all cylinders, you may have the same issue I had... that being a non sealing intake gasket. Who put the engine back together after the heads were redone? Which intake manifold gasket was used?
I would say its time to remove the intake manifold, and check that gasket. Sounds like the head has to come off anyway, to redo the valves on the #1 cylinder.