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There was a change made to the exhaust port when the heads went to open chamber design. I asked about that at Tonawanda (in 1969), and was told that there was an experimental set of heads made with closed chamber and revised exhaust port. That design performed better than the open chamber with revised exhaust port. (I didn't see the data.)
Revising and relocating exhaust ports is done on most of todays higher end aftermatket heads and it does work. It also creates headaches with headers but I cannot imagine that GM would give up 30 free HP when all they had to do was make a pipe a little longer....... IMO it must have been the combination and timing of the emissions and insurance regulations that doomed all the muscle cars for why that head was not brought out.
Todays chambers designed for swirl have proceeded way beyond either design of back then but those old rectangular iron L72 heads can be made to make lots of power (although they need less compression)........ you just have to find someone willing to grind on hard steel.
7/16 rod bolt L88`s were available before March 1968, and the open chambered engines were "smog" engines. I have never found any open chambered engine to be better than closed chamber ones
The 7/16ths rod bolts may have been available in March of 68 but my understanding is that they went into production with the second design motor. The open chamber head was for improved emissions but a side benifit was better flow and more HP even with a slightly lower compression ratio of 12 to 1 vs. 12.5 to 1. Plus other changes to the second design engines were the introduction of the holley double pumper carb with mechanical secondaries and a revised ie. bigger camshaft.
Thanks for all the information guys. IMHO this is the best engine to come from Chevrolet so just wanted to get some information on it. The best Corvette engine also. Thanks guys.