360 compression ratio, Am I wasting my time?

Yea, I'd agree with Fishy. First find out what you got for a cam and compression ratio, everything up to that point is just speculation. Once you've done that sit down and decide what ratio you're looking for and spec out a new cam and don't forget to look at your converter stall and rear end gearing in the overall formula. Engines are like a big blender, put in the wrong ingredient and it'll taste like crap.

Terry