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Stock '89 truck has dished pistons for a nominal 8.5:1 compression. A B303 cam probably won't produce P-V clearance issues, but it's a terrible cam for a 302 in a truck(as are all the alphabet cams), and will require mass air to run smoothly and pass emissions. The stock '89 truck cam is flat tappet and produces 0.379/0.395" lift and 244/256 deg duration at the valve, and the motor was rated 185hp and 270ft/lbs TQ with all stock exhaust. A far better cam is the Comp 31-255-5 or the F4TE roller cam(0.422/0.448" lift, 256/266 duration), once you go beyond this with longer duration cams low rpm power begins to fade.
What are the casting numbers on the heads, it'll be on the head gasket side near one of the intake ports.. you'll need a mirror to see it with the intake off.