Compression is fairly low (esp. at this altitude), and the 22RE is way overbuilt. No worries if you mill the head a bit. You'll have to clock the cam sprocket to make up for it, but that is straightforward too with an aftermarket kit. EB at Engnbldr.com will take care of ya.
He gets up to 140HP out of 22REs (sea level, crank) but doesn't spend much time bragging about it. He is action over talk-talk.
Heb Dduw, heb ddim; Duw a digon
I'm that gun-totin', farm-raised, evangelical, pro-environment, OHV ridin'/drivin', Southern civil rights pro-labor Liberal yo' momma told you couldn't possibly exist.