272's will work but the magic scenario you might like to try would be the 264/272.
With ECMLinkv3 idle with either cam setup would be of no consequence. The reason for 264/272 was the better idle, slightly more midrange/ealier spool, and good top end/higher RPM too.
Using a lower torque motor like the 1.6 DOHC, means that you need all the torque you can keep and use.
You could also consider the use of a Cyclone dual runner manifold (with or without port matched/filled - to the 1.6L sized ports) to add up to 30 ft/lbs of torque.
The manifold would likely be a contributing factor to maximum power and where the power band is achieved, but it is well worth it if the manifold is triggered efficiently. Some here trigger it with a T25 wastegate modification.
This does require some work and likely our upgrade budget allows for a set of cams/seals and a new version of ECMLink, but not much else at 1K and everything shipped or delivered to you.
3-400 for cams, 5-600+ for ECMLink in various concoctions - speed density (requires extras and extra wiring) or MAF (cheapest and is plug and play with no additional wiring other than a wideband to help things along and stay safe).
Either way you should consider new springs (Evo8/9 w/titanium retainers(can be used retainers if need be)) or some decent aftermarket springs like Kiggly.
Check out this thread on springs ....
Tuners thread
If you ECU was not eprom, you could still have it modified to work that way. Lots of good reading on the for sale portion of the ECMLink homepages. They also have a support forum, and lots of guys here that tune with it.
The setup would arrive and you would have to set it up, unless the guys here can point you in the direction a reputable/savvy tuner that will keep your motor combination alive.