Here is my understanding of what a leakdown test is:
Air is pumped from the air compressor to a pressure regulator (with a gauge), then through a restriction, then through a pressure gauge, then into the cylinder via the spark plug hole.
The % leakdown is the difference between the regulator gauge on the compressor side of the restriction and the pressure gauge on the cylinder side of the restriction. So, what you are measuring is how much faster the air is leaving the cylinder than what can come in via the restriction.
I don't believe that the restriction size is standardized, so only consider "acceptable" numbers from the makers of the leakdown gauge.
For what it's worth, I built my own leakdown gauge and used a .040" hole for the restriction and I pretty much had 10% leakdown in all cylinders.
[ September 05, 2003, 06:20 PM: Message edited by: Chris A ]