Bleeding off compression with headgaskets will not produce the results you are seeking. It will overheat be down greatly on power vs an engine built with the correct "quench" at the same compression. I think i would just make buddies with the local airport manager to source a steady supply of avgas. I mean how much do you plan to drive it anyway? I average less than a thousand a year and with a rowdy engine like that even with less compression, it would be even less.
It sure is a super cool find !!! Even if you put it under a glass table to stare at it would still be cool
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