You can check compression and the timing belt, and it might help you pick up a few more MPGs. But I think cbaber is right. The car seems to be functioning close to normal, except for low compression, which could be significant, I realize. Still, you'll need to become willing to mod it and your driving technique to realize really significant gains. Pumped-up tires, grill blocking, airdams, and especially engine off techniques and acceleration in optimum load ranges are the biggest, cheapest, simplest winners. The amazing thing about the acceleration is how without instrumentation, it is really about impossible to hit the right level of engine load. For your OBD1 car, you'll need a vacuum gauge at least, and preferably an MPGuino and tachometer (in that order of importance).
Good luck. Start a fuel log here. Monitoring the numbers over time is a great way to adapt and adjust technique and mods.
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See my car's mod & maintenance thread and my electric bicycle's thread for ongoing projects. I will rebuild Black and Green over decades as parts die, until it becomes a different car of roughly the same shape and color. My minimum fuel economy goal is 55 mpg while averaging posted speed limits. I generally top 60 mpg. See also my Honda manual transmission specs thread.
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