You can rent a spring compressor from your local auto zone, etc. They require the price of the tool for a deposit, but you get it all back when you return the tool.
Run it with 93 octane and check for detonation. If it is detonating tt will sound like little gremlins are inside your cylinder beating it with a hammer. I highly doubt youll require anything more then 93 octane.
For jetting.......be safe. Start with 300 mains, stock pilots, and put the needle in the middle.
That is an impossible question to answer, it is all preference. I have seen alcohol bikes run awesome at 125psi, and 170psi. Same goes for gas, all preference. Cranking compression isnt as important as some other factors.