[paul 67gto]

Im no expert, this is just my two bobs worth.
What you are talking about is stroking the crank,this will cause the piston to travel slightly higher up in the bore,increasing compretion and reduceing the deck hight.
Be aware by not decking the block and using standard height gugeon(spellcheck)the piston will be right up into the bore releif which may cause piston rock.
You will gain few inches also.
I think compression gains will be slight, rev range should be fine.
Remember Im just a novice so dont rely to heavily on this info.