Rob,
I presume you mean your COV valve turned out when you mention decompression turned out...
With COV Valve out, you might have some trouble getting sufficient heat built up to fire the fuel and start up. No ring breakage issues unless you were trying to use some sort of starting aid such as ether. DO NOT USE! Best bet is to preheat the inlet manifold, add an electric glow-plug, or an intake air preheater element.
The function of the COV valve is actually to raise compression during a cold start and thereby aid in starting.
dieselgman