Have you considered running ethanol? E85 or e98 out of a drum? I run methanol but have learned through other racers that ethanol would also be a good choice and since you use 2/3 as much ethanol as you do methanol some what cheaper if available in your area.google ethanol race fuel for more info. As for compression I understand guys are running straight ethanol at up to 15/1 compression.
Which ever you chose, keep the motor leaned out for warm-up and run the motor at 180 degrees or more at the starting line. Let heat build to 200 plus and that will cook all the alky and water out of the oil.