I agree with you to a point, that the block is less than spec., my stock block without machining is .070 below with stock pistons and the rest, as produced (78 vintage) I also agree with you on the heads, as the smaller runners will help. If you use the mopar performance gaskets @ .020 thickness you should end up some where around 9:1 compression or just under. Even with the valve reliefs as they are only 4 -6 ccs as they aren't deep. But you should still have a very good running engine.
BJR Racing