10.7 or less compression with iron heads isn't a big deal if you know what your doing and plan on running 91 minimum octane.

I ran several variations with 10.74 c/r with 186 casting and 292 casting. You just need correct cam timing, recourved ignitions, and a good cooling system with 180 thermostat

little tiny ports and valves are best left on sub 300 ci motors. In this day and age of cheap aftermarket heads it's not even worth putting money into double hump heads with 2.02/1.60 unless you have to have a matching number engine.