And yes, you are showing definite possibility for nerve compression in your cervical spine, particularly of the nerve roots, which pass through the spinal vertebral openings--the foramina--on their way to other parts of the body from the spinal cord.

Fortunately, you don't seem to have "significant central canal compromise" which might thereby involve compression of the spinal cord itself, which is usually considered a more serious concern than foraminal narrowing/nerve root compression.

You should have a good spinal doctor correlate these imaging findings with your actual symptoms. Nerve root compression symptoms tend to occur in specific locations corresponding to the areas that the roots go to ennervate, called dermatomes. We have some dermatomal maps in the Useful Website section of the Spinal Disorder forums here, which would be a good place to look and post--

http://neurotalk.psychcentral.com/forum22.html