There has been discussion about grooving heads. If you poke around a bit on google or maybe even here you can find a paper written by a guy who did some testing with a Geo Metro engine. The change isn't drastic, but it is worth looking into if you are going to be rebuilding a head. Of course, if you have a 4 valve per cylinder engine, like SVOboy said, you likely don't have anything to groove.
Even my 2V/cyl Honda heads didnt have quench space.
DiamondLarry did grooves on his Saturn SL2. His son is now driving it, with a number of 75 mpg tanks under his belt. At the very least, it doesn't seem to hurt.