Depending on how tight the piston to valve is on this motor, the cam being off 14* could cause it to kiss some valves.
I was thinking the same thing. I wouldn't think it's all that easy to get 14:1+ compression out of a 470 without some head milling, and with that Comp .690 cam I can't imagine there was a big surplus of piston to valve clearance on the exhaust side, even with the cam installed at the correct c/l. With it in at 122, i would think some contact could easily happen.
68 Satellite, 383 with stock 906’s, 3550lbs, 11.18@123 Dealer for Comp Cams/Indy Heads