I bought a 93' gsx-r1100w with only 10,000 miles, and I noticed a loss in power so I did a compression check which confirmed my concern, #2 cylinder was almost dead at 50 psi, 1, 3 & 4 were low at 120, 120 & 110. I am suprized an engine with only 10,000 miles would be shot, Does anyone know of an inherant problem with gsx-r1100w engines? I would like to get an idea of what I'm looking at. If anyone is familiar with these bikes/engines I would appreciate your opinions, thanks.

Compression tests suck,they are extremely vague and only tell you that there is a leak somewhere.Perform a leakdown test an you'll be able to isolate where the problem lies,whether its an intake /exhaust valve not seating or blowby on the rings.You never know maybe the other owners never checked valve clearances and the only problem you have is that cam/bucket clearance is to tight which would cause the valve(s) not to seat and show up as low compression.

i would just bore the block 1 mm over and put in a nice set of wiseco pistons, it's a guy on Ebay right know who has a set of them for 350.00 buy it know, that kit retails for 500.00, it comes with pistons, rings, pins, clips, and a cometic head gasket

+1 for valve check & leakdown test.
Also check the torque of the bolts that hold the cylinder head on.

It's low mileage so unless its had a real hard life, it could be something pretty simple. I've seen often those bolts haven't been torqued to spec on the required services and can cause leaks which lead to loss of compression. They can work loose but since yours is lowest on cyl 2, that's slightly odd for loose bolts.
Either way, common sense would say check everything you can before paying the cost of replacing pistons, bore the head, etc etc as already suggested - You could end up with the same problem once the head is put back on if it was simply the valves..