your compressions look pretty good, other than the one blowed out cyl.
based on the fact that it runs, and doesn't knock, that's all good.
there are 3 possible problems. the most likely is the common problem of a cracked head in the 5.2/5.9 magnum engines. this will be the most expensive, as it will require head replacement.
burned valve, broken rocker, bent/worn push rod. maybe. unlikely.
head gasket. this is unlikely, since you don't have water in oil or overheating.
a couple more things to do before you pull the head. pull fuel pump fuse or something so it won't crank, and while an assistant spins the starter, observe the valves on #4 and see if the push rods are moving properly. if not, remove rocker and replace push rods. observe that valves are moving up and down. if so - then you've done all you can do, and its time to pull the head.
you mentioned black plugs, so while you are doing this, go over to 2nd gen ram and do a search on plenum, and you'll find another common problem that you can address when you pull the top end off.
just preparing for the worst. a burned valve can be rebuilt by your local machine shop. if the head is cracked, i would not weld/repair it, but replace it.
here's a cheap rebuilt OEM head. same weak casting, but ok.
http://cgi.ebay.com/ebaymotors/DODGE...Q5fAccessories
new/better casting.
can't find one on ebay. used to be common. still looking.