"The shop said that the type of rings should not require much to seat. I didn't really know why."
Chances are they used the regular cast steel rings.... which take less to seat due to the composition of the material used in the rings (soft) and of the cylinders, high Nickle content, (Hard).... If they used Moly rings.... they would take a little longer to seat due to the similar or like metals... (Both the moly and AMC blocks have high nickle content).
"Is it realistic to say that 125 lbs compression is low considering that the cylinders were bored out .030"?"
Absolutely man! Somebody correct me if I'm wrong but stock compression should be around 160?... With a cylinder difference of no more than 20psi? Hmmm, I'm going to have to dig out the books from storage and look it up now...
"The oil ring, being the lower ring, could have not seated properly and it would not effect the compression, true?"
Honestly, the 1st ring takes the blunt of compression etc, the second ring takes the remainder or the lesser of the compression that slips by the 1st ring... there's really not much seating for the oil ring... the oil ring is just that... the "Oil Ring"... it pretty much (forgive the crude description), picks up the oil, lays it down and wipes it up... Basically controls the oil film on the Cylinder walls... (I'm sure others will go into a more detailed and precise "How it works").
"Say for instance that the shop is correct and that the oil could not be getting into the cylinders past the valve stem seals, how can I be sure if the rings are seated properly? What can I do if they are not? I've heard of a few old fixes for this - what is the real way to do it, short of replacing the rings all over again?"
There's always a chance of something going wrong... "Murphy's Law" I have the positive seals etc on my 360... and my baby didn't smoke not even during the break-in... To check your rings to see if they have seated properly... (Without a visual confirmation)... You can do a compression check and also a leak down test... this isn't conclusive but it'll help narrow the possibilities. Well you have 1500+ miles on it... so basically your option would be to replace them... If you washed your cylinders, (Flooded the cylinders with gas pushing the oil out of the grooves and cleaning or removing the oil film from the cylinder wall)... Could also cause lower compression and excess wear!!! And seeing that the cylinders have a high nickle content and and they most likely used cast steel rings.. your rings probably have seen better days already!... But anything is worth trying.... You could always remove the coil wire... remove #1 spark plug, take some ATF/motor oil etc, dump a couple of table spoons etc in the cylinder have a buddy bump the motor a few times... then places your finger over the hole leaving a slight hole put a rag over it as well (To catch most of the fluid) and then crank the motor for 3 to 5 seconds or 2 to 3 compression strokes, (To push the fluids out).... Repeat this for every cylinder!!! It's worth a shot, exhaust all options and if you're still left with no idea/solution replace the rings.
Hopefully this helps... and if I've given some wrong info, people please jump in and correct me.