Howdy Mavhead and All:
The significant difference between a "75 casting and a '78 casting is the size of the intake valves. '75= 1.69". '78= 1.75". Another iffy differecne may be hardened valves seats on both intake and exhaust. The '75 will most likely have harneded seats on the exhaust. The '78 will, most likely, have hardened seats on both intake and exhaust. Carb hole diameter, intake tract volume and chamber sizes should be the same. The increase in valve size alone is not significant.
In addition to the need for milling to compensate for the difference in thickness of the head gaskets, I'd suggest that you add a performance valve job to the '78 head that includes, at least a three angle valve seat, a back cut-on the intake valves and a little pocket porting, basically to smooth the transition from machined to cast surfaces.
FYI- You stock '75 CR is rated at 8:1. So long as your milling the head I'd suggest (1) that you mill .025" to compensate for the gasket differences and (2) another .050" to get the CR closer to 9:1, for a total mill cut of .075". The increase in CR along with the performance valve job will improve both economy and performance.
What carb, distributor and transmission are you using? Are you planning an future upgrades or modifications?
Adios, David