Bought my 95 Ultra a few months back and it was only showing 16,000 on the odometer. I had no way of knowing if this was actual miles, or if it had 116,000 on it. Tires, belt, brake pads all looked to be in good shape. When I changed the primary oil, the tension on the primary chain was just right and there was very little wear on the chain tensioner. I just did a compression test a few minutes ago and got 160 on both cylinders with the engine hot and the throttle wide open. Went to 160 on about the second or third stroke. Front and rear cylinders were within 2-3 lbs of each other. I'm starting to think 16,000 was the actual miles. If the bike had 116,000 miles on it, would it have this kind of compression, if everything inside were stock?

 

if its still on the stock bore, no.

 

just ride it. could be stock, could have a top end rebuild. again just ride.

 

If it had 116k miles up there would be signs of wear all around the bike, like on the gas tank where the rider's legs rubbed it, air filter cover, seat would be polished and worn in places. With far fewer miles than that my rear gear lever rubber is worn where my heel tends to end up, little things like that, plus stone chips, paint worn away under the fenders where stones have been thrown up over the miles.

Frankly from what you've said it sounds genuine. Time to ride and enjoy!