More power from Z134 engine

[sscott47150]

Will be overhauling my 1957 MF 50 with the Z134 gas engine this winter, and want to see if I can bump up the power, without breaking the bank.
Seems I recall a post in a form where some one posted ideas to get a little more power out of the engine.
He talked about the normal hot rod stuff, like matching ports to manifolds, and making sure every item is to spec.

Assuming I buy a kit with the slightly larger bore, that will help some.
Higher compression, upping from the current 6 to 1 might be a good idea, but not sure how much to remove from head surface to bump up to 7 to1, or maybe even 8 to 1.
I am asking if anyone recalls that post, or if there is experience out there I can tap into?
Long time MF owner,

[murphy1244]

Power costs money, how much you want to spend?

[sscott47150]

Wanting to keep it under 1K, so nothing like turbos in the plan.
Hoping to go from the rated 34HP to maybe 45-50 HP by upping compression, making sure everything is blueprinted.
Thanks