More than likely not 11:1 based on the cranking pressure numbers.

Verify the cranking pressure numbers with another gauge.
All plugs removed, battery charger on, check at 4 and 8 “pumps”.

Verify tdc mark is correct on damper.
Carb will need to have race calibrated low speed circuits and 4 corner idle.
Locked out dist.

If all above checks out, and it won’t run “fine” with 35-38* timing, I’d start looking for leaks.

My 383, which was a bit under 11:1, 256@.050 cam...... cranking pressure around 200 in 8 pumps.