Questioning ring wear after hand turning engine?

[Eclipse2GTurbo]

Basically a little background on this, I'm putting together a 4g63t 6 bolt for my colt for summer fun car. I bought the long block and did everything but rings, that includes bearings, valve seals, every gasket, etc. Being a budget fun car I decided to take a gamble and leave the rings as the walls looked great and honestly I just didn't feel like doing it. Well last night I threw a new timing belt on and while spinning the motor clockwise with the oil pan off I'm hearing a large rush of air down by the crank/rods. I tried building compression and holding it but after 4-5 seconds all compression and resistance seems to be lost. The motor is dry and about 45f in temperature aside from the oil I wiped on the walls prior to installing the head. Tonight I'm going to put some oil in the cylinder and see if it holds compression a little longer but I guess my question is:

do you think a cold dry motor would result in a lot of blow by or did I lose on the gamble I took? Or if you have any other possibilities I may be overlooking, I'm open ears.

 

[zonerdck]

It's really hard to say. When you say I tried to hold compression where you using a gauge? Also when spinning the motor over how are you doing so by hand?
If you where using a gauge thats good but I don't think spinning it over by hand will net the results the gauge would need to register compression. I mean maybe if you sat and spun it as fast as you could on an engine stand you could build enough up to see if it at least held it. (Maybe thats what you did)
As for the air leaking down the cylinder wall I wont comment on this to much as I have seen it in a brand new build but haven't had a chance to hear it in an older longblock.

 

[Eclipse2GTurbo]

Sorry I wasnt exactly clear, I'm spinning it by hand with a 1/2" bar, there's no pan or oil in it so I don't want to get too carried away with spinning it as I put new bearings in it and just the stuff I put on them. When I'm turning it clockwise I build compression and hold the breaker bar still. At this point all compression seeps around the rings in a matter of 2 seconds and the cylinder loses all compression. Ive always dealt with high compression Honda engines which were quite resistant when turning by hand. I mean we're talking 10.x : 1 compared to 7.8:1 which is quite substantial. I've also never turned an engine by hand with the pan off so this might be normal? But the main point is that all hand built compression is lost around the rings in 2 seconds or less. Hopefully this makes sense, Thankfully this is a project colt in playin with and not a dd. appreciate the response!