I see that you're new here. Welcome to the site!
Assuming based on your handle that you have a Z28 (you should add a signature to your profile
), the stock compression ratio on your LT1 engine is 10.4:1. By "increased one compression point," do you mean going to 10.5:1?
Assuming you do, there are a few ways to accomplish this. The most likely are:
1. milling the heads
2. installing a different set of heads altogether with a small combustion chamber volume
3. installing domed pistons.
The amount of horsepower you'd stand to gain would vary greatly depending on which of the above options you chose, and the details surrounding that choice. In each case, you'd want to get the PCM tuned for the new setup, and the quality and priorities of that tune would also play a role.
Regarding porting your intake and exhaust -- do you mean porting the intake and exhaust ports in the heads? Or do you mean porting the throttle body and/or intake manifold? I've never heard of porting any part of the exhaust other than the head ports.
With enough money and fabrication skills, you can fit anything in anything. A big-block Chevy in a fourth-gen Camaro would require a lot of both. For a lot less work and probably less money too, you could buy an LSX454 making more power than a big block could ever dream of, and then all you're doing is an LS swap, which is well documented.
I get the impression that you're new to modifying cars for more horsepower, and you're asking about a few things you've heard about. If that's the case, I'd suggest you might be going about this backwards.