don't ever ask for "what is better" because there is NO correct answer. for the most part, it's all a matter of opinion.
high compression requires less boost to make the same power as low compression.
high compression offers more power off-boost (in vacuum) due to the motor being more powerful in and of itself.
high compression also makes for higher cyl. temps, and thus, can detonate easier, and thus, needs a more proficient tune.
don't worry about head work. that's the all-motor way to build. If you are considering boost, the turbo setup, fuel management, and bottom end should be your main concerns.
After, if you want a "little more", talk head work. but bone stock b-series heads i have personally seen put over 575 horsepower to the ground on a gsr bottom end. its all in the block, the fuel, and the turbo.