HP & TQ difference between 10.1 comp to 11.1 comp?

Yes, upping the compression will net you more power. How much is hard to say, I know Wallace has a calculator for that...along with a calculator for just about anything else under the sun.

http://www.wallaceracing.com/Calculators.htm

How many licks does it take to get to the center of a tootsie pop???, HANG ON, let me check Wallace racing for a calculator!

Seriously though, if you want to run 12:1 and don't like race gas prices, why not convert to e85? If you drive your car a fair amount it will pay for it self in about a year in gas savings alone...just a thought.