be sure to get your head stud installed before your honing process... or you gonna have tight spot in the cylinder and probably GT will tell you that... with this kind of compression, you will also to change your cam cuz you gonna build to much dynamic compression with the oem cam and BTU's probably gonna sit to long in the chamber, you will need to run higher octan gaz to not predetonate... prefire = hard time for your rod... that is surely something you want to avoid with a fresh new built!!! I suggest you looking for stg2 hotcam(this is a drop-in cam), webcam 450/451 and GT thunder have a cam with the same shape of the web cam I speak of... that is for a 416 or less with the last 2 you will need hardfaced rocker arms for $$$ure.
I'm in the same rebuilt process with a CP 12.5:1 416... and I'm looking to build something that I'll run with around 100 octan... if I can help you with my exriders.com search engin knowledges...
416 CP 12.5:1, Hotcam stg 3, H2H mid P&P, Race-cut valves, FCR 40 H2H dual spray venturi jet, Flywheel lightened 13.3oz, Cometic gaskets, Roll Design +2+1, DS450x FS, Eyeballs +2 stem, GPR stabilizer, LSR Axel & Carrier, misc parts...