I am getting together the parts to rebuild my 396 and i had alot of recommendations on what setup i should use.Please Give the pro's and con's to this setup.

396 - 2721 bored .060 over
Oval port closed chamber heads -7215 reseated and ported
Intake manifold steel -1067 ported
4bl quadra jet 750 cfm
speedpro powerforged pistons 10.81 comp 319 dome
Cam 270 adv dur 510 lift
set roller tip rocker arms
set hedman 1 3/4 shorty headers or stock exhaust manifolds
Thanks in advance for your opinions.

More than likely a good bit too much compression for your cam, unless you dont mind paying lotsa money for a fuel grade above premium pump gas. My guess by the sound of the cam is that 9.5:1 compression is much more ballpark for a 270 degree cam, but its hard to be sure witout knowing more. Are you sure that you will end up with that much compression, or are they just 10.8:1 pistons? If you could, list all cam card specs, especially your intake valve closing angle. Also, list your combustion chamber size in the heads, gasket thickness, deck height, and the size of the piston dome(preferably in CC's). With this, we can get a very accurate estimate of your compression if your estimate isnt already accurate enough, and the cam specs will show what DCR numbers will be like, and the DCR will normally be a very good indicator of what fuel grade you would need with your current setup.

They are just 10:8:1 Pistons. cam specs - 270adv, 224 @.05 dur, 510 intake 510 exhaust, 119 degree angle.
piston dome 319 cc dome, Thanks

How big is the piston dome? 10:8 with what cc?

I checked with the piston supplier,the piston has too high compression for pump gas so i had to drop down to a lower compression ratio.

.319 dome is the 11/1 piston from the 396/375 motors. You only need the .188 dome piston (about 18 - 19 cc). The .188 dome will get you to 9.5-9.7 with a 102-104CC head and close to 10/1 with a 98-100 cc head depending on how much the deck has been cut and what head gasket you use.