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Absolutely, the higher the compression the more power it will make. 12:1 should be fine on 93 or higher octane, if you tune the timing right. Octane is knock preventer, so the higher the octane, the higher compression/more timing you can run. On race gas, people commonly run 13:1 and up.
you might wanna run someting better then pump 93. myabe go 50/50 with sometyhing higher. at Nelson Ledges raceway cars with compression anywhere around that usually run 50/50 with 91 and 109, you might have a rougher idle as well, and tuning is your best friend.
my opinion, all motor is gay, go turbo. more power, more reliable