Paul, Thanks for the reply. I really do not have any performance requirements. About the requirement is to use the original rebuilt carburetor on the rebuild.
John at "Pony Carburetor" suggested:
1. Cam duration – do not exceed 220* at .050.
2. Take compression to 9.5:1.
3. Use retrofit roller cam and retrofit roller rockers.

I read about making the exhaust ports larger.
Lowering the compression means less horsepower?

I really do not know much about rebuilding engines. Any advise would be greatly appreciated.