Evening Mini fans, I thought I'd spent a few minutes and let you know how I got on.
In the end I got the head converted to unleaded, refitted with a new BK450 and so far so good. Dry tests are within 10 psi of each other - which I've taken as a good sign. The engine sounds a lot smoother, there is less valve train noise and it's much happier to be rev'd.
The only down side is you can now hear the worn alternator rattle on idle