not a 396 just a 323:(

Your compression should be fine.
In fact,since the motors zero decked and a closed chamber head is installed,your compression is perfect for the purple shaft cam.
The motor is right on the money:-D
The only thing that would improve your performance with your combination, the way it is, are the following:
1)TOTAL TIMING SET AT 30 DEGREES OR MORE
2)CARB TUNING-PUMP SHOT INCREASE
With a tight converter the engine will like a rich pump shot.
3)4 hole -CARB SPACER-HELPS VELOCITY
4)GEARS-:toothy10:
Since your stuck with your converter,the way you adjust the carb, will be very important, little changes ***will make a big difference.