I'd run that sucker, it should fly! I ran the ST-12 294/294 advertised and .485/.485 lift in a 1971 340 Challenger and it was a rocket. With 3.55 gears and G60-15 tires, it wouldn't even think about hooking up if I launched it over 1000 rpm.
2. you could buy a set of RHS heads with 2.02's and minor bowl work that will at least equal yours in performance and have new heads in the process. Plus they'd probably cost less than it would cost you to do your smogger's.
I know i the Eddy's are more and not really as good with lots of problems out of the box. But 50'lbs is worth a lot to me. My dad offered/has a set of older W2's T&D rockers Ti retainers and as cast. I could use but they are closed chamber but i don't believe i could get my compression ratio down with out buying new pistons again.