Eric,
been racing my 100M w/VSCCA for 10 plus yrs. Have a steel head, large valves, flowed, ported, etc. Not super high compression, about 10 to 1. Steel headers from Paeco, jetcoated. JE pistons, Buick lifters, Corrillo rods, DW alloy sump, worked SU carbs, DW alloy carb heat shield, Mallory dual pt dist, dual mast cyc (porsche 914), DW heavy duty od piston, DW clutch linkage, converted throttle to cable type, stiffer shock valves, larger sway bar, Lunatti cam, etc. None of these things are "cheater" stuff by VSCCA standards. Some fellow racers are using a alloy head and SO FAR, no one has made a fuss about it. Big no-no is front disk breaks or minilight wheels.