I thought this motor had 10.5 to 1 compression stock?
Uh, probably not.
While that may have been the spec, I seriously doubt that many of even the '68 340's had a compression ratio that high from the factory.The chambers on most of the stock heads were larger than the specified 65cc's. I'm finally almost finished building my '68 340, and with aftermarket pistons (KB 243's) and heads that cc'd right at 65 my compression ratio is at 9.9:1, even with the tops of the pistons .018" out of the hole.
What kind of pistons are you planning on running? Stock cast, hypereutectic, forged? Keep in mind that on a '68 340 your pistons should actually be above the deck. Spec was .018", which is where mine are. Shouldn't be an issue running stock heads and that cam, I'm running a Lunati 60404 (.513/.533 lift) and don't have clearance problems. Although, the KB 243 hyper's that are in my engine have some pretty serious valve pockets. If you are getting stock pistons, make sure you get the early high compression version, and not the later low compression type.
A Sealed Power cast piston (Z428)
Kieth Black hypereutectic (KB243)
Speed Pro forged (ZL2316)