Powerman, you made many good statements which I agree with, but I'd like to expand on the comment about cc balancing the chambers. Although widely done by many machine shops, it really is a useless endeavor unless it has been verified that the piston deck heights are equal. Remember, calculation of actual compression ratio includes the volume above the top ring to the block deck.
Having built a fair number of engines, I've found that the piston deck height varies from cylinder to cylinder. Once you measure the piston deck height for a given cylinder you can then adjust the combustion chamber volume accordingly to make sure each cylinder has the same compression ratio.
For example, cylinders that have pistons closer to the deck would have larger combustion chamber volumes than cylinders with less clearance from the block to the deck. Accurately measuring deck volume is tedious work as the top piston ring gap has to be sealed with grease to prevent fluid leakage beyond the ring when measuring.
Using this method, you can get consistent compression ratios out to the second decimal point (hundreths).
I would use a dial indicator and a deck fixture for the indicator to do a spot check on the piston deck heights before cc'ing the head. Of course you have to make sure each piston is at TDC. If there are measurable differences, you could do a rough calculation using the bore diameter and deck height differences and then use that volume and compare it with the volume of the matching combustion chamber. If you want to make changes, be careful to remove very little material and not to alter the shape of the chamber. And remember, when you do balance you do it by lowering the compression to match, not raising it, so be careful not to grind away too much.
