I may be getting a '71 project with a stock 350 (170 HP 4bbl) from a '78 full size. The only thing not stock is a pair of headers. I believe it has 882 heads on it.

I am thinking of putting a pair of Dart Iron Eagles on it (200 cc runners, 64 cc chambers, 2.02/1.60 valves), an Edelbrock performer rpm intake and a Comp cam (280/280 dur, 230/230 dur. at .050, 480/480 in lift, 110 lobe sep)And top it off with a 670 Holley street avenger.

I would like to know what c.r. would I end up with and how much HP/TQ would I be making? Also is there any warnings I need to know before hand?

If the piston rings are on the edge of being bad you might blow the rings with the heads by raising the compression ratio. It is a good performance gain what your planning on doing, but you might produce an oil burner too. Compression ration should be around 9.5 to 1 or so.