Yeah I can see that happening, especially if the engine builder has some experience with that type of combination. If I was building it I'd use a flat top piston near zero deck with a 0.036 Cometic gasket. Put a reverse dome in the piston to get the compression ratio in the low to mid 10's and you should be there.

Running on 87 octane wouldn't be a big problem on a dyno since you have cold water, lots of airflow around the engine and usually start the pulls above 3000 rpm. Having it run on 87 in a car might be a different story.

EFI would help a bunch, especially if the EFI controls the ignition timing. It would take a pretty good tune to get a Dominator and a spring and weight curve distributor to survive on 87 octane on the street.