Stroker,
You are right, 8.2:1 is low compression. But you can do respectable things with it as you well know.
My son bought his wife a 71 Scamp. He took the stock 318 bottom end, pulled some old 2.02/1.60 valves out of the trash can, installed them in the 318 heads with some bowl work, shoved a Comp 270S in the cam tunnel and used some 273 rocker arms and pushrods to hold the lifters down. Had a $20 aluminum single plane put under a $30 Edelbrock 600 cfm Performer. It sounds like a big block, makes 320 HP and turns heads where ever it goes. Pulls right off idle and feels like it will never quit winding. Uses 85 octane. Anyone can feel like they own a race even on 8.2:1.