Certainly quench helps and also swirl and tumble. That is what Olds was trying to do with the swirl port heads. They work pretty good.
The cam they put in the VIN 9 engine is to big for the CR so bumping compression won't hurt you, but since they programmed the timing to be 60 degrees at cruise, you may run into detonation with 87 octane. But increasing the CR will no doubt increase fuel efficiency. You can always re-burn the chip to have less timing or run 89 or higher octane.
The DCR is so low that I think you could still run 87 octane with 9:1 with the stock cam. Stock CR is just under 8:1.
AFA, having fuel injection to not have detonation, forget about it. A properly tuned carb ( especially a lean burning computer controlled carb) you don't need EFI.
Thanks ECONORAM for the congrats. I am still working on it.
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1974 Olds Omega 11.85 @ 112 mph on 87 octane 3620 lbs
1987 442 bone stock 215,000 miles 26.7 MPG