I have never seen a 232 but I was told the exhaust manifold is on the passenger side unlike the 258 which has both intake and exhaust on the drivers side. As far as compression ratio I had my head milled a little in my 86 cj-7. The engine builder got me around 9 to 1 (I'm going of memory but I think stock 8.5 to 1) was I run a comp cam, weber, header, and GM HEI ignition with a tf999 automatic. With this setup I have to run 89 or higher octane. So I spend a few more cents a gallon but I don't have to run premium 91 octane unless I'm playing hard or pulling a trailer.