There are lots of variables that impact how much timing you can run and what octane will be required with a particular static compression ratio. Aluminum heads may allow you to run more timing and/or less octane compared to all else equal with iron heads. Also how much overlap the cam has makes a big difference. With more overlap, you bleed off some cylinder pressure at lower rpm allowing it to tolerate more static CR with less chance of detonation. Also, if the engine has a good tight quench dimension (.030"-.035") it will tend to resist detonation more than it otherwise would as CR and timing are increased or fuel octane is decreased.
As you can see it's complex and there's not a simple one size fits all answer. VERY general rule of thumb --- with a relatively mild cam, as you start approaching 10:1 on iron heads or 11:1 on aluminum heads you're getting to the point where you may not be able to manage detonation easily with reasonable timing settings or pump gas.
An aside - a number of European manufacturers are introducing direct injection gasoline engines where the fuel is injected right into the combustion chamber just before firing the cylinder off. Fuel pressures of over 3000 psig result in VERY atomized/vaporized fuel that's mixed well with the air, and the vaporization in the chamber removes heat. The result is static CR's as high as 12:1 on pump gas -- with more hp, more torque, better fuel economy and lower emissions. Just write your $30K-90K check for one of your favorite Audis and you too can take advantage of direct injection and high CR's.