How much compression and what cam? Cranking compression is a good indicator.
You will kill cast pistons very quickly if you lean on it with a bad tune.
I would never recomend a decomp plate because about 99% don't match the bore properly causing bad crevice volume, making the engine more knock prone.
Never aim for a boost level but a power level. Boost is only a indicator of restriction within the system.
Any motor will handle about a 50% power increase over std at least and about 6psi minimum. Realistically you should be able to see 180fwhp at about 9psi with the right parts and tune. Don't retard to timing too much, found that one out the hard way. 1deg/1psi is a good start.