Using the United Engine compression calculator and .100 in the hole and 74cc chamber with a .039 gasket I get 8.2:1. If it was ME, I would cam accordingly, run a decent intake, headers, put a hot timing curve in the distributor and hold on. It'll be a tier melter if done right. You do not HAVE to have high compression to run well. People have been dispelling that MYTH for decades.