340 build advice needed

I would run it.
I run 10:1 340 j head at sea level with no issues. Looks like you are at 1000 ft (less air available to compress.
Your dynamic with a 70* intake valve closing event will be approx 7.85:1, well within pump gas limits.
A good tune is the key. I have never run that cam but I would install it at 106 or 104 to help the bottom end torque.