too low compression?

[seansz28]

i am building a 454 for a 78 camaro, the parts i have will get me about 7.5:1 compression is this too little? i plan on getting a centrifugal supercharger, but will this engine work until i can afford the charger? also it is a street driven car and what boost would i have to run to make it perform well on the street while using hypereutectic pistons and cast crank and rods(under 5500 rpms).

bored 30 over
stock crank, rods
speedpro dished -4 cc supercharger/turbo pistons
heads/ polished 781's