My 340 with eddy heads and about 10.1:1 to 10.25:1 (can't remeber the math) with a Crower solid 248/252* at 50 did fine with 91 pump gas, I had 3.91 and the car weighed about 3100. Never heard any fuss from the motor and it ran strong.
I would deff run at least 10.50:1 and a bigger cam.... 228/230?? isn't that almost a stock cam! Like others have said, I would also go with either 3.73 or 3.91s, with the OD you'll be flying.
Most of this is open to personal preference so you'll get a lot of diff answers. What kind of build are you doing?