do you really want to increase your compression that way, the 12 port head on your car is better flowing than the red 9 port, it is more common to fit a 12 port to a red than a 9 port to a black or blue.
why not find a second hand 12 port head that has already had some porting and bigger valves and make the effort a little more worth while, you could end up otherwise with less power and more detonation on ulp.
Also you would need to get new extractors, carb, and inlet manifold if you went to the red head.
Remember street machine magazines "grunt hunt", the standard varijet gave more power than a holley and a holley will usually give more power than the earlier holden carbs so what carb would you run with the red head that is better than the varijet, maybe a 390 would work but they arent common and cheap, neither is the four barrel manifold.
the 149 heads mainly have advantage on red 202's not black & blue.