Everything looks pretty good for sitting out for so long.
It's normal for the compression to be down, the rings dry out, not necessarily stuck especially if there is no evidence of water in anything.
On the fuel system, I would replace all the fuel lines. They may look good but be flaking on the inside. There may be crusty sediment in the bottom of the carb bowl. You can probably just ease it apart, clean it out. Pay close attention to thoroughly cleaning the main jet. Scrape it out with a torch tip cleaner or a stiff wire. Once there is gas in the tank and the lines are in place, turn the pump on and flush the pump and lines before making the final connection to the carb.
Hard to say on the plugs. Nothing bad about them, a little dark maybe a little rich or just not worked hard enough. No sign of oil fouling or ash deposits I can see.
Did you check the hydraulic tank and gear cases for water? Might crack the drain plugs loose before starting it. And look for the unexpected, mouse nests in the intake and exhaust system, chewed wiring.
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Today's Featured Article - Upgrading an Oliver Super 55 Electrical System - by Dennis Hawkins. My old Oliver Super 55 has been just sitting and rusting for several years now. I really hate to see a good tractor being treated that way, but not being able to start it without a 30 minute point filing ritual every time contributed to its demise. If it would just start when I turn the key, then I would use it more often. In addition to a bad case of old age, most of the tractor's original electrical system was simply too unreliable to keep. The main focus of this page is to show how I upgr
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