My thoughts exactly. I'm not a fan of E85 and would not build a performance engine based on that fuel, especially considering its existance is relatively unstable comparted to "normal" gasoline. I hope E85 gets killed off, personally. Get rid of E10, too.
I'm not too up on the MN47, but if it puts comp at 11:1 I'd avoid it for anything besides a pure race engine. I assume on dished pistons, the compression ratio would be more within the realm of possibilities. With that said, I see people putting a single spec like comp ratio (or any other given single parameter) on a pedestal all the time. Valve size, header size, R/S ratio, rod length, blah blah blah. It's a system, so it must be treated that way. Frankly, make "enough" compression (>8:1) while minimizing chances of knock and you'll be fine. This is not an all out race engine where we're sqeezing every last 0.1hp that we're talking about here.
As for small valves vs. big valves, I'll stand by my statement of "big as possible with minimal shrouding". The only reason for having smaller valves is if your engine is designed for just low-end torque (narrower intake and port runners, low-rpm cam profile) therefore not needing larger valves. That's the case with your SBC truck engines. Valve size is the effect, rather than the cause. It's the classic causation =/= correlation... situation.
From this, I hope that one can deduce that just installing bigger valves won't gain you a ton without changing the system. To accompany larger valves, it is beneficial to work the ports, intake and exhaust runners, cam profile, etc.