bleed down on lifters will reduce compression test. I use performance trend engine analyzer software, it will calculate cranking compression, generate an advance curve, tell you if detonation is an issue with different octane fuels, idle vacuum, besides HP and torque. I never build an engine without running it through the program. But like any program you have to take the time to put good numbers in it. Things like really knowing what your static compression is, intake and header lengths, flow of your heads, etc.
The higher the cranking compression the more power an engine makes, unless detonation becomes an issue.