Lou-
I'm by no means an expert, but static compression ratio is, by definition, static. Valve events have no bearing on the calculation. Which is why the SCR is really not terribly useful when picking a cam.
You need to calculate the dynamic compression ratio. I like this calculator:
http://www.kb-silvolite.com/calc.php?action=comp
As you can see, it's really the intake valve closing point, or the number of degrees past BDC that the intake valve closes, that most effects the DCR. So yes, a more "radical" cam can have the effect of bringing a high SCR into a more manageable range, at least as far as octane requirements go. Naturally, there are other factors such as emissions, fuel consumption and driveability that are also affected.
Hope this helps.
phil