Could the engine take it?

Lets say i took a 75-76 280z, with its N42 cycl head and on re-build i threw in some flat topped pistons to raise compression to approx. 10.4:1

#1 would it work

#2 would the engine just go boom

#3 what kind of performance gains could i expect if it did work

Now i assume some machine work wouldn't have to be done to the head the strengthen it a little, but the thought still stands.

Matt

P.S i chose the N42 over the N47 becuase of the square exhaust ports.