From what I remember, the GT40's had approx 65cc combustion chambers (give or take). The sock E7TE heads had anywhere from 62-66cc combustion chamber volume depending on casting variances...so they're essentially the same. Also, you can't achieve that kind of compression, but simply just milling the heads. You're going to need to change out the pistons if you want to bump the compression to that extent.
Also keep in mind that if you do try milling the heads down excessively, you are going to run into piston to valve clearance issues as well as intake fitment problems that will require you to mill down your lower manifold in order to bolt it down. That being said, if you get a piston with generous enough valve reliefs, running the 1.7 rocker ratio won't pose a problem and neither will fitting the manifold.