Just Purchased Virgin 340 Short - What to do with Pistons

CC's are 65, and the piston are in the bore by 0.07"

Can anyone calculate my CR, assuming deck height is typical
Mmmmm... you deck height is nowhere near to typical for the early high compression pistons; those stick .018" nominal out of the bores. If they are truly .070" down in the bore at TDC, then IDK what they are; they may be the later low compression 340 factory pistons, but I did not think they were down in the hole that much. The Silvolite 1267 mid-compression replacements don't sit low like that.

So is this 'in the bore by .07" ' for real or did you mean .007" or ???? Do the pistons have 2 or 4 eyebrows? What actual heads do you have?

If you were to put in newer Icon or KB or other newer pistons, you would save considerable weight. The Icon's have a light ring pack. But not sure any of that is of value to you for your use. And the crank would need re-balanced as noted.

Of course we know nothing about the condition of the present pistons, bores, rings, ring grooves. So it is a guess as to what it will do.