Actually a 331 is a 3.25" stroke, 5.40" rod and a 1.175" or 1.165" CH piston, depends on brand.
A 347 is a 3.4" stroke, 5.40" rod with a 1.09" CH piston or you can build it with the 5.315" rod and a 1.175" piston (same as you would use in a 331)
P3471F-030 is a Probe FPS series piston (its the cheapest piston Probe makes) its a flat op 4cc with a 1.09" CH and a .927" pin.
Your short answer is if that piston was used you have a 347 or your piston is way down i the bore, so I would belive you have a 347. Compression ratio with a 58cc head is around 10.7:1, with a 61cc about 10.2:1. Both are very managable witht he correct cam, I actually like stuffing as much compression as possible on pump gas in the motors I build....cam is crucial.
Hope that helps...