You will NEED a bigger carby. And a different cam is cheap performance. Also, try and lighten the flywheel a bit. Also, get new valve springs. Old ones can let the engine valve bounce bad, and effectively reduce your rpm by heaps. I recomend electronic ignition of some sort. If you run points, make sure they are new and change them at least every 3 months.
I will let others tell you of specific head/piston combo to use to get the compression you want. All the different generation pistons are different. Welsh plug 3K head will have the biggest valves, and give good compression on a 4K.