Is that a 4-cylinder or a 6? How many miles?
Here's why I ask:
In my experience with a 135k 4-cylinder 2RZ in my Tacoma and a 195k 4-cylinder 3RZ in a 4Runner (they're essentially the same engines) at about 120k the exhaust valves begin to lose clearance and must be checked and re-shimmed every 20-30k after that.
I've examined four of the 6-cylinder, 5VZ-FE engines with 150-250k and valve clearances seem to be largely unchanging in those engines. My guess is that Toyota specified a higher quality exhaust valve in those engines. Good thing : the driver side bank requires a lot of surgery to access. You wouldn't want to do an examination every 30k.
Thus, a 4-cylinder may have a tight valve - zero clearance - and this could be the cause of no compression on your engine.
Also in my experience, mechanics may apply what they've seen regarding valve clearance on the V6, i.e. unchanging even at high mileage, and applied that same logic to the 4, without a proper examination. More than a few mechanics - and shops - don't like to mess with shim-type valve adjustment. Likely because customers are shocked at the cost.
Spot on. I just opened up my 192k 4Runner with the V6 (5VZ-FE) and literally every valve was perfect. As in middle of the road FSM perfect. I love this engine.
The 3.0L 3VZ-E engine? Terrible. Some Toyota dealers refused to adjust the valves because it's so difficult to access and an absolute pain to do.
So should I chalk it up to me just doing the compression test wrong since all cylinders were reading low, and the one wasn't ever reading at all. Or should I be seriously concerned ?
As one who has owned a vehicle with very poor compression, (before mentioned 3VZ-E), you should have the following if you really do have 0 compression:
1. The engine would shake violently from side to side at idle. Like it's about to fall off the engine mounts violent.
2. You would have a terrible vibration in the cab at low RPMs (under 1000).
3. You would have terrible acceleration until about 2000-3000 RPMS.
If this is not the case, I would agree that yes either the test was done wrong or your gauge is faulty. The Harbor Freight ones are known to be faulty, sometimes right out of the box.
If you want to have it done at your mechanic's shop for peace of mind then by all means please do. My shop has done it for free for me before since they know I try and work on my vehicles myself when I can. But it doesn't really sound like you have 0 compression or low compression on any of your cylinders.
I'm all for learning how to work on your own vehicles, but be careful you don't take on more than you can handle! BTW the positive side of your battery should have a red cover that goes over the terminal so you don't accidentally short out something like what happened to you.