70 340 HP handling ability.

That's a stretch, you'll need an R block for that kind of horsepower. Also, 9.5/10 CR is too high if you're going to use a super charger. 65'
Myth.

9.5:1 is about perfect for a boosted street engine up to moderate boost levels. My daily big block is 9.5:1 on 91 California junk gas and has seen 17 psi. And if the op is willing to use e85 then 11:1 and boost is not out of the question. It’s all in the tune up.