Low compression certainly indicates wear. Ultimately it will result in less power, increased consumption, poor running and eventually a busted engine. How bad it gets is a mixed bag of factors. Some engines go for ever with a low cylinder or two and make OK power. Depends what you want from the engine, how hard you drive, what your plans are etc etc. Engines are always wearing out, that's the nature of the beast.
Weigh up what you want from the car, how you're set for finances and go from there. You're not going to hurt the car by driving it as it is but if you flog it constantly you will accelerate the wear and possibly cause damage from failure down the track.