Dear Dave;
I would really think this over.
If you follow Mr. Lites advice you will be removing needed material(s) from the head & block to save buying the 'proper' pistons. This is a bad trade-off.
The 292" engine is a truck engine designed for commercial use and this is why it has a lot of "meat" in the block/head. The low compression pistons were probably a Federal mandate to comply with 'smog' regulations back then, which don't apply today.
It may take .045 to 'square'the block & if that's gone, you may have to start over.
A deck height of about .015+ is also needed to compensate for size changes in components during high temp/stress levels.
I would ask Steve that runs the "Mighty Six" & see what his thoughts are. His 1930 pick-up runs a 10.40 all the time with a built 292.
Good luck, John M.......
