Honeslty, I don't know why anyone would turn the engine over by hand to check for compression results. You don't run the engine that slow, it idles approximately how fast the starter can turn it. Plus the starter is consistent, doing it by hand is not.
No compression test ever can say if rings or valvetrain are bad, only that there is a loss of compression. You need to do a leakdown test to find what the problem is. The psi being close between all the cylinders means that either all your cylinders have a problem, or none of them do. With numbers that high, basically it means none of them do.
As far as the psi, I think race engines have well over 200 if they are naturally aspirated. It also does depend on the cam as previously mentioned. My dad owned a comet when he was young that had a 260 with 220psi because of his pop up pistons. Total street car though. My 1985 5.0 had 110psi stock, and the book said that is normal. WHen I upped the compression, I am only getting 130 now, but I know there are no problems with my engine and that is normal psi for it.
The "correct" way to test compression is as strtrcr50 said, turn the starter with the gas pedal all the way down. Make sure you remove the coil wire first!!!!