I don't have a compact double, so take this with a grain of salt...
My thoughts are that if you left the big mountain cluster on the back, that might help mitigate the loss of gears you're worried about. For instance, with a 34 on the back, that would make the 50 up front easier.
When I switched out my road bike's rear end to mountain derailleur and large cluster, I went online (WISH I could remember the site) and found a gearing table that showed me ALL the gear ratios in inches, so I could truly compare what I currently had to what I was considering going to.
Oh, and a thought about one day doing the other events...if you kept your low gear chain ring after you swapped it out, it wouldn't be that hard to have it re-installed for that what-if racing someday.
Just my .02 ...and probably only worth about that much!
"The best rides are the ones where you bite off much more than you can chew, and live through it." ~ Doug Bradbury