Going from a CR of 6.3 to 7 will yield on the order of 5% more HP. It will also push cylinder pressures from ~630 psi to ~700 psi. The combustion temps will also rise around 11% (the reason for the gain in efficiency, actually). The brake mean effective pressure increase tracks the engine efficiency, and the power of course tracks the BMEP.
Is it really worth it? I doubt it makes a huge difference unless it also requires hi octane fuel to feed it (a negative).
As mentioned, the RPM and stroke changes rapidly move the needle in engine output faster than compression ration changes, but with risks or consequences just as unique as those associated with compression ratio changes. Heat rate is heat rate.
As for comparing a higher compression engine to a "tired old engine", properly maintained engines with a lot of hours on them make the same or more power than factory new engines until the new engines are slightly worn in. There is no magical fairy dust that makes a factory new engine produce more power than a well maintained TBO engine. I've never flown behind a new engine to see any measurable performance increase from the older, timed out but well maintained engine. I've flown behind tired engines that were sludged up, had clogged filters, sketchy mags, or leaky fuel injectors that impacted performance in very noticeable ways, however, and when those items were fixed, the engine was just as boring as a new, freshly broken in engine. I never really understood what people meant when they said "...yeah and holy cow, with that new engine, she really climbs like a homesick angel...". It was something often said that I figured I'd get the chance to see for myself one day, and here I am a few decades later and ...nope. Vibration, you bet. Even well maintained older engines can get sludge and piston crown buildups that contribute to that. But power? Hmm.
In any case, I've never heard of someone turning down the opportunity to try out a hot (if not legal) mod on a plane purchase. Mysteriously, I never really hear them extol the virtues of all that port polishing, high CR pistons, and super duper mods after a while. It all looked so enticing in the features list on Barnstormer. I have heard several grouse about how their core was rejected when they got a rebuilt stock engine swapped, or how MX challenges have left them scratching their heads if it was a good trade or not. In terms of functionality, the 5% increase in power will be about exactly like taking off or climbing at a density altitude about 1500 feet lower than usual. Maybe that is interesting, maybe not.
Good luck with your new ship if you get it though!