I'm using a set of SRP pistons in my 331, machine shop that did my block work said it was one of the lightest he has seen for off the shelf. They even eliminated the oil support rail for the wrist pin. The are holding up fine after 9 years. 475rwhp NA.
Yes 10.5-11 is doable if you have the quench. I am 0 deck at 10.5 but still run a bit of race fuel just to be safe. Like half gallon per tank, the leaded fuel smells nicer with no cats also.