building a 360, and newbie 360 questions!

what about package six, with the "J" heads i have? what are the major differences between smog heads and my heads? and what do they mean by competition valve job? what would i have to do to get them to flow well enough? i don't think i could POSSIBLY run 12:1 on pump gas.... could I?
also, i have access to a very well-priced holley strip dominator intake, and a set of headers that will work for this application. i would still use my 770 street avenger also.
Package six:
Rebuilt 360, bored .030" over with Hypereutectic pistons, bowl ported smog type 360 heads with 2.02" intake valves and competition valve job. Edelbrock Torker II intake, Carter 750 AVS, Comp Cams Magnum roller rockers, Comp Cams custom ground solid lift tight lash cam with .542"/.549" gross lift, 272/276 advertised duration, 243/247 duration at .050" with 108 lsa and a 108 intake centerline. Headers with small 1 5/8" primery tubes.
430 h.p. @ 6,000 rpm
412 lbs. of torque @ 4,900 rpm
EDIT: for package seven, how much am i going to be spending on the port job and valve job on those heads to get them flowing that much?