The guys that I work with who came from Cali, and all the guys out at Jun that I've been fortunate enough to pick their brains, all said that they're running right about 12.3:1 compression.
They all told me, that if you're willing to screw with your timing when it gets closer to summer, then you could get away with like 12.5:1, just be careful about pinging.
I run 12.8:1 on 93 octane, but I also run my timing at 14 degrees, which is 2 degrees negative, though it still runs just fine, and fast as hell. Doesn't ping at all, unless I throw it a gear high under a lot of load, example: if I'm doing like twenty and aciddentaly throw it into 4th instead of second, and lay on the gas, then it'll ping a little, you just need to be careful.
Good luck, just remeber, it's better to run a little less compression, and not have to rebuild your motor, then get those couple of extra horses.
Later,
Aj