Stock compression on a '60 motor with an 848 head is already about 8 to 1. Going over bore that much is going to raise it probably another 1/2 point. I would only take enough off the head to flaten it and no more.
If it were me, I'd probably be looking for another block anyway that could be bored .060 or less unless it's a number matching thing. These engines are very easy to find for not much $$. Keep and eye on craigslist around your area and they'll pop up.
-Ed
