I've run low compression carbureted alky engines for about 12 years now and they run quicker on alky than they do on gas. 434SBC with a .100 DISH piston and 76cc Track 1 heads went 5.39 on pump gas in a Cameron dragster I had 2 years ago. One week later on alky it went 5.34.
Bottom line is yes, more compression will make more power but if money is an object and you want to run it I wouldn't let the lack of 15 to 1 stop me from doing just that.
I even ran the stuff on the street in my yellow car with a belt drive pump. That car ran 10.0s @ 134 at Rockingham in 1998 at Super Chevy on alky in street trim and it weighs 3500lbs with the fat assed driver in it.
Desktop dyno says 40 more HP on alky on that engine over gas with all else being the same.
Go for it Bubba! :wink: