Gentlemen.
WRT the 42 mm valved heads on a 1600 displacement. - Well, I would never do that unless I had some really funky intake restriction in the manifold. Also the fact that you need to run 11-1 CR with a W120 cam to make it run right is a clear indication that the fuel mix is poor due to too large port volume for the displacement and rpm. Its a classic. No offense, but it is.
I will admit that this engine has been referred to earlier, and is one of a kind. It pulls just over 190 hp at approx 7500 rpm in race trim and approx 175 in street trim (Yes, it is usable on the street) It runs light pistons, 043 heads with 40 x 35 mm valves, 12-1 CR IIR. IDA´s, very light flywheel and a designed three step header. It also "only" uses an FK45/44 cam w. 1,5 rockers but it still shows that big valves are not nessessary:
https://www.youtube.com/watch?v=9868ihgGVk8 and
https://www.youtube.com/watch?v=v15y0b480GY
One of our Norwegian colleagues built an "off the shelf" 1600 around the same time, to see and to illustrate what can be done even if you do not have the machines and skills to build an engine to more or less ultimate specs. I could´nt locate it on the net (I know its posted) so I can´t tell you what cam etc he was using, but I do remember that he used regular 044 CNC round ports with only a better seat and valve job, 40 mm TB´s etc. It pulled a healthy 150 hp in Rally trim, which is what it was used for later.
A very talented old friend of mine recently built a 1955, (I know, too much displacement) but with only a Webcam 218 (242/455") and very detailed stock valved heads and just over 9-1 he pulls 130 hp/190 Nm @ 5300 rpm with 40 IDF´s and a 1½" A1 sidewinder. Pure street.
I have built several 110-120 hp street 1600`s with 150 -160 NM torque with cams not wilder than the W120 One thing you need to get away from is the old W cams. They are simply outdated. - On some limited induction engines and also sgl port engines they still have their place. But in general there are much better cams around today. I have built one 1600 engine that was originally going to compete in the Scandinavian Historic racing 0-1600 class, but it never went that far due to the fact that it could never be competible with the BMW Alpina and Lotus Elan´s with 25-30 more hp and 100 kg less combat weight. So it got detuned and used on the street instead. Anyway, in Historic race trim within regulations, with 35,5/32 mm valves, 10,5-1 CR. Web 121/125 cam, 40 mm PII carbs and a two step header it pulled 132 hp @ 6300 and 156 Nm torque at 5000 rpm. Usable powerband between 4500 and 7000.
So again, do not fall into the trap of using overly large valves in a smallish bore. The outside of the valve and port will simply not be able to flow properly.
For a track engine that sees a good deal of G forces around the bends dry sump is definitely a good idea.
WRT cam choices. If you seek really racing cams, you might want to talk to Don Pauter (Stateside) or JP Motorsports over here. Both know what they are doing. JPM´s Raptor series cams have the advantage of not needing nearly as much spring pressure which in the end results in less rotating friction.
End of rant.
T