Those are pretty loaded questions actually.
For compression ratio, you can run whatever you want, as long as it doesn't lead to the detonation which the knock sensor will "hear", and reduce performance.
Cams, a computer safe grind should be ok, any cam manufacturer should be able to recommend one, BUT the caveat is that any changes to the stock setup requires a new tune to get the *best* performance from. Yes, with the right cam you won't have to get a new chip burned, but it will not be *right* as is, regardless of what anyone tries to tell you. Plenty of posts here even (I recall a 454 thread as a matter of fact) where engines were running VERY lean, yet "felt" right. EFI can run great, it's also good at hiding problems that are either potentially very dangerous to the engine, or making you THINK it's operating at peak performance.
Anyone that has made a change like you are suggesting, and actually looked at what the computer is doing before/after, will tell you that the tune will not be optimal. You will be throwing away power and economy to SOME degree (likely small, but still) without tuning.
IMO making changes to gain power, then compromising by not retuning and thus preventing more gain, is counter-productive.