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Agreed with the above posts. You can get away with it, and see some nice power increases across the rpm range from it, but it is risky. You have to tune very carefully, it is irreversible, and I know of far too many stories of cars blowing head gaskets from poor machining, or being stuck running with thicker head gaskets (to re-lower the compression ratio) or racing fuel to stave off detonation.
Use a method like drift described over this option. Your cheapest option is the thinner head gasket.
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