Project car compression ratio recommendations?

[E4ODnut]

Hi all,
I'd appreciate some recommendations for compression ratio on our project car.
Vehicle specs:
1953 oval window street Baja
Swing axle transmission
Bus reduction boxes.
Final drive at the rear axle: 5.1:1
Rear tire dia: 33"

Engine specs:
Dual port 1641
1.1:1 rockers
Stock crank and rods
Mild port heads (53 CC with step)
Headers
Premium gasoline (91 octane)

Cam specs: BugPack 4061-10 (actual measurement @.050" lobe lift)
IO: 14 degrees BTDC
IC: 40 degrees ABDC
EC: 48 degrees BBDC
EC: 7 degrees ATDC
Int Dur: 234 degrees
Exh Dur: 235 degrees
Int C/L: 103 degrees
Exh C/L: 113 degrees
LSA: 108 cam degrees
Built in Advance : 5 degrees
Overlap: 21 degrees
Int lobe lift: .338"
Exh lobe lift: .338"

The engine will be initially checked out on a test stand with a 34 PICT-3 carburetor and assuming it runs reasonably well it will be converted to Megasquirt EFI with Mexican EFI hardware, waste spark ignition and crank trigger input.