To reduce the CR on a 1.2 8v, you need to use the 1.2 16v pistons
and rods. The rods have the same big end, but the small end (and thus the gudgeon pin) are a different size.
Go MPI and, while you'll need larger capacity injectors, you can forget about the nasty, nasty, second injector folk use on the SPI cars. It'll give you better, more controlled, fuelling, and mean that you can run a proper, grown up, ECU in stead of an overpriced, compromised, bodge.
Within reasonable limits, the fuel pressure doesn't do an aweful lot with regard to the fuel delivered at the cylinder. That is governed by the capacity of the injectors. It really doesn't matter a stuff which fuel pump you use (and they're not expensive, so I'd personally
not use a second hand one out of an old Ford), provided it can deliver enough fuel at the correct pressure. More important is that the pump cartridge fits in the carrier in the FIAT, which fits in the tank, etc.
These folk are suppliers of known good kit and sensible advice. Their prices are pretty keen, too.
Now, you've revealed what you don't know. You need to decide whether to go for an SPI set up (crap, in my humble opinion) or an MPI one (welcome to the first decade of the 21st century!) and to do a fair bit more reading. The books at the top of the page
here are a good place to start.