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what kind of track? if its road racing you'll be running hotter for longer so maxing the compression won't be fun if you get days with not so up-to-par gas especially in hot weather. I've seen high as 11.8 on the street and most I believe are around 11-11.5.
You need to be concerned with dynamic compression and not static compression. Your cam choice will tell you what you can get away with. My 10.5 static compression turns into 8.5 dynamic compression, with the cam i a running. Use one of the many free calculators on the net.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.