Here's another option. I have a 1969 318 block-heads- rotating assembly in the corner. That should have the higher CR. Should I just build that with either the 340/360 heads or a pair of 302 heads?
I like to run 9.2 - 9.5 compression on the street. If you have less, you loose some efficiency. As long as you stay out of spark knock, the higher your compression, the higher the efficiency.
The late 60's engine with the 308 heads may also work, but I haven't had any experience with the 308's.