I've been trying to study the new technologies in engine design for a long time, quench/squish, swirl, turbulence, and the list goes on. It can make your head spin....well, it maked mine spin lol. Let's face the fact that our old engines are...well, old and the technology isn't exactly up to date but with the right choice of parts, they can be made to run better than they did in the day when gas was better than today.
IMO,one of the screwups that 'mom' made was lowering compression using dished or flat top pistons and using open chambered heads. The consensus back then was to lower NOX pollutants and lowering compression was supposed to lower cylinder temps which in turn lowers NOX. It didn't work very well. Cylinder temps usually went higher because of lousy combustion chamber design coupled with low compression and absolutely no quench which generally caused bad detonation. The combination just wasn't conducive to quality combustion. Then to top that off, we had dieseling when the ignition was shut off. Anyone here remember the smogger engines of the mid to late 70's? I sure do. Speaking of dieseling, there were many out there that would continue to diesel for as long as you let them and the only way to stop it was to stick it in gear. Well now a days, you don't see that design much anymore and I'm glad of that!
If you ever build an engine, do your homework and research it out. As for the quench distance, I will never build another street engine with more than .035 clearance and will do my best to keep it closer to .030. IMO, the .040-.045 figure has become old school and is merely a 'safe' number and I think I understand why most shops use it. A lot of people still like to build engines with a ton of piston clearance and well if you do that, then you will need more quench distance but with minimum piston clearances, you can shoot for thighter QD's.