I spoke to our local engine builder who builds engines for race cars. Basically I can do some pocket porting, valve reshape and light skim on the heads, without needing a cam. I have to be careful about trying to get the comps up too much on an old engine of unknown mileage as it can cause glazing and result in oil burning. I'm thinking a safe skim will be 15thou. This will increase the lifter preload a tad, and a slight comp bump. I'm not expecting huge gains but am hoping for maybe a final figure of 130-140rwkw. I figure that just overhauling the heads will give back some of the losses from being old. I have an oil leak on the passenger side and I can see it coming from the head. It's pretty minor but it does drip onto the starter motor. Given the engine is pretty decent since other repairs have been carried out I'm happy to sink some coin into the new heads. If I go boost I'd want a sound engine and decent heads so it makes sense to overhaul them.
If I had my time over I'd probably look at cam upgrade over 1.9 rockers. I went with rockers because it was easy bolt-on HP. However had I known my chain, and tensioner were worn out before I fitted the rockers I would have gone a large cam. But it took the rockers to be fitted for the chain issue to flare up and it was spend big coin on cam and labor doing a whole lot more than I had money for at the time or go with rockers and settle for a little less output.