It's actually kind of a trick question. For the sake of this argument it's a performance/race engine. I have to assume the entire package is matched in that direction. I tried to explain that the CR increase will allow you to take full advantage of the combination. The example I tried to use was:
Chevy 350 + .60 over and 8.5cr with large cam, stiff springs, 850cfm, headers = gutless pig.
But,
Chevy 350 std bore and 11.5cr with large cam, stiff springs, 850cfm, headers = strong runner.
However, in a bone stock engine I don't think either will be that noticeable. Have you ever seen huge power claims for cams or rockers? If you start with a full tilt 383 race engine making 600hp that used "X" cam then swapped in a stock 305 cam then only got 400hp on the dyno you could claim that "X" cam is worth 250hp. If you start with a stock 305 that dynos at 140hp, then swap in the big 250hp "X" cam do you think you'll dyno at 400hp? Nope. It could actually be even less than the original 140hp.
Has anyone noticed what the OEs have done over the last couple decades? The overall engine sized have actually gotten smaller in many cases. They are focusing on increased compression and torque. The trend has actually been to decrease bore sizes and increase stroke. Fuel delivery systems are more about velocity/atomization than sheer volume. The results are better mpg and emissions along with more useable power. Most of us have driven cars with stock replacement reman engines. Likely with a .030" or .040" over-bore. You can't feel any difference. All things being equal, you CAN feel the difference between an 8.5cr and an 11.5cr engine. Obviously, on a scratch build engine I would use every available opportunity to increase performance. If I HAD to choose. I'll take compression every time.
Chevy 350 + .60 over and 8.5cr with large cam, stiff springs, 850cfm, headers = gutless pig.
But,
Chevy 350 std bore and 11.5cr with large cam, stiff springs, 850cfm, headers = strong runner.
However, in a bone stock engine I don't think either will be that noticeable. Have you ever seen huge power claims for cams or rockers? If you start with a full tilt 383 race engine making 600hp that used "X" cam then swapped in a stock 305 cam then only got 400hp on the dyno you could claim that "X" cam is worth 250hp. If you start with a stock 305 that dynos at 140hp, then swap in the big 250hp "X" cam do you think you'll dyno at 400hp? Nope. It could actually be even less than the original 140hp.
Has anyone noticed what the OEs have done over the last couple decades? The overall engine sized have actually gotten smaller in many cases. They are focusing on increased compression and torque. The trend has actually been to decrease bore sizes and increase stroke. Fuel delivery systems are more about velocity/atomization than sheer volume. The results are better mpg and emissions along with more useable power. Most of us have driven cars with stock replacement reman engines. Likely with a .030" or .040" over-bore. You can't feel any difference. All things being equal, you CAN feel the difference between an 8.5cr and an 11.5cr engine. Obviously, on a scratch build engine I would use every available opportunity to increase performance. If I HAD to choose. I'll take compression every time.