What matters much more than static is your dynamic compression ratio - this is the effective cylinder pressure you see after VE restrictions and cam timing.

You could have a huge static compression, but if you didn't close the intake valve until very late, and coupled that with a restrictive high rpm ve you could probably get away with 16:1 on pump gas (static) - but you would only be seeing the same cylinder pressures as a lower compression/differently setup car that also ran on pump gas.

That's one reason why nascar runs such insanely high compression - with their restrictor plates @ high rpm they aren't nearly filling the cylinders because of all the manifold vacuum. This is also why they are more likely to pop a headgasket at lower rpm/coming out of the pits, etc.