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If your budget was not tight a 2.7RS with about 9.5/1 CR would be a dream. It would require having the injection stacks opened up and the MFI pump rebuilt with a space cam to support it.
As budget is a concern it would be best to just rebuild it as a 2.4T motor if the P&C's are usable or somthing close.
You might be able to have the cylinders boored out to make it a 2.5 and increase the compression at the same time form 7.5/1 to about 9/1. This should let you keep you stock MFI system and pick up some HP. I would also replace the dist. rotor with one from an E to move the red line up from I think about 6800 to 7100. Could look for a set of 2.7 cylinders and build a 2.7T motor.
Having said that. You might put togeather a MFI conversion package with or without the heads and offer it for sale. The 7R small spigot case has value to the vintage racers. The 2.4/2.7 crank has value to. Part everything out and just buy a good running 3.0 CIS or 3.2 EFI motor.
It might be worth noting that you be aware of what class a modified motor might put you in. In some areas a stock rebuild w one point higher CR is still a stock motor.
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