First!!! those numbers across the board are low.
With a good gauge they should be 145-155 maybe even higher, even a new gauge(Harbor Freight Tools) can give bad results.
I think they started in 95 the 120 came from the factory with the top and bottom cyl. lower by 10# than the 2 middle cyl.
Before you take it apart, get a different gauge and d another test.
Then if there's a big difference?? I'd start with a De-carb, Use OMC's Engine Tuner or Mercury's Power Tune, Yamaha makes a de-carb but I don't know the name.
Then if that doesn't bring up the numbers I'd get a small cell phone camera( $11 Ebay)
Then check out the cylinders.
The fuel pump is mounted on #3 port cover. You can remove the covers (4) and inspect the sides of the pistons.
Then I'd pull the head and look.
If the motors ran in salt water it can be tough getting some of the bolts loose.
Do what is suggested and post the results.
As far as the head being warped??? I've never seen it happen?