I would say that the crank is cast and the pistons are hypereutectic but I really don't know for sure. As far as compression that'll just depend on what pistons you use the heads you use, but yeah, you can go that high or even higher quite easily (just may have to use the expensive gas). That's if you want to stay N/A. If you are going to use a supercharger or turbo then you want to stay down more around high 8s to low 9s. Our Lightnings come stock with 8.8:1 compression which works great for supercharging/turbos.
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1967 Mustang Coupe
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