Once you've figured the static compression ratio, you can use this handy calculator from KB pistons to figure the dynamic compression ratio....
http://kb-silvolite.com/calc.php?action=comp2
Where it asks for the intake closing point, take the info from the Crane spec page for the cam you're looking at. It will give you the figure at 0.050" tappet lift. Add 15 degrees to that figure and that is what you'll enter into the KB calculator. Crane shows the cam I suggested to have a closing point of 35 degrees ABDC. When I calculated your DCR with that cam, I entered 50 degrees into the calculator.
You know, it just is that simple. You look through the list of cams and pick the characteristics you want from the upper right hand corner of the cam description (Crane), then use the KB calculator to see if you have a match. Try to get the DCR between 8.0:1 and 8.25:1. Any less and you won't have much of a motor and any more than that and you won't be able to run pump gas without detonating. Of course there are exceptions to every rule. If you have a very tight squish, combustion chamber polished, spark plug electrodes de-burred, no overhanging head gasket, no PCV and no EGR, you will be able to get away with more on pump gas.
One more thing about Crane. They will give you the LDA too, although they don't list it that way. Go all the way to the bottom of the cam spec card and add up the two cam timing figures at max lift, then divide by 2. Here's a for-instance.
http://www.cranecams.com/?show=brows...tType=camshaft
This cam reaches max intake lift at 105 degrees AFTER top dead center and max exhaust lift at 115 degrees BEFORE top dead center. Adding the two together gives you 220, then dividing by 2 gives you 110. So, this cam has a lobe displacement angle of 110 degrees. Cams with a higher LDA (112 and up) will make more power higher in the rpm range and will tend to be very smooth at idle, making excellent manifold vacuum. Cams with a shorter LDA (110 and under) will make power lower in the rpm range, but will tend to peak sooner. They will also exhibit a choppy idle and low manifold vacuum. (You will need about 18" of mercury to operate power brakes properly).
You asked if it is necessary to degree the cam in. It's just like anything else. Once you learn how to do it, it's easy. And YES, I would urge you to learn how to do it and to degree this cam in. How else are you going to know that everything is optimized for performance? Go here and click on Degreeing a cam.....the easy way.
http://www.cranecams.com/?show=insta...t%29#Camshafts
OK, I'm out of breath. Any questions?