I drove one for many years and JMOS has it now and has driven it even more. You have to retard the timing to get it to run on 93 Octane (initial timing at 0), and you have to have a really good radiator that will keep it cool (count on having to put a new radiator in it). The other thing I did that made a huge difference was blocking off the exhaust crossover in the intake, but it was my daily driver at the time and that caused the carburetor to ice up in the winter time. If you are going to drive it just in the fair weather months, then it is not a problem. Lots of potential in that engine and it will run really strong with some slight modifications (bigger exhaust and a performance camshaft).
The other solution is to rebuild the engine and put a set of the 9:1 pistons for a 2 barrel engine in it. That completely cures any detonation issues with only a moderate loss in power.