Possible cam install

it will give you almost half a point compresion EXAMPLE 8.1 \\ 8.4
AND THATS GOING WITH A THIN .026 HEAD GASKET
STOCK IS A .040 HEAD GASKET

That's a 1/3 point, nevermind almost a half point.
The stock gasket is the MP thin gasket, not the .040 gasket.
Your example is also misleeding since '78 engine is more likely a 7.8-1 engine with the pistons so far down the hole, it'll echo. I know what my '79 looks like on the INSIDE...INSIDE...inside...inside...inside ...inside...inside

IF THAT IS A OPEN CHAMBER 318 HEAD JUST BY A SET OF 302'S OR 920S FROM THEM
302'S AND 920'S HAVE A CLOSED CHAMBER
302'S ARE SWILL PORT AND 920'S ARE A 1967 HEAD
Would you show me open port / large port 318 heads?
I can show you '79 Heads that have small chambers just like the 302's.