Your theoretical, mechanical compression is 8.5:1, i.e. the cylinder volume is 7.5 times the combustion chamber (8.5 volumes being squeezed into 1).
Running compression will be less than that depending on whether it completely fills the cylinder or not, or overfills it due to tuning etc.
With a turbo, you are making the engine think that it's operating in an environment that's at a higher atmospheric temperature.
So if you have 14.5lb boost at sea level, you are (basically) getting 2 lots of air in, and compressing it 8.5 times, (theoretically 17:1).
However, turbos heat air, and the cumulative total is never the simplistic additive of the two.
Unless there's very low boost, higher octane fuel is probably a good thing.