depends on the condition of it, if it comes off in one piece and looks ok then reuse it for the time being, keeping an eye out for leaks.Going to do the valve clearances tomorrow I think, is it urgent that I change the rocker gasket when I take the cover off? I don't have another one handy :-S
to help with the compression test - pressure should build up quickly, low pressure on the first crank that slowly builds on further cranks indicates worn bore/rings. if the pressure doesn't build on further cranks this would indicate leaking valves. If, like you, there is one cylinder reading lower then add a small amount of oil through the spark plug hole and repeat the test, if it improves then it would indicate bore/ring wear, if it doesn't then it would also point towards leaking valves.