I'm talking Campy 10, not 11, so your mileage may vary... I ran a compact with a standard FD for years, and it was just fine. I think that's still what I have on one of my bikes, and I couldn't tell you the difference.
However, I agree with whoever said to just get a new 12-29 cassette. I'm the worst climber I know, but I survived a week in Colorado with a 53/39 and that 29 in the back. I prefer a compact or triple, but that would be the cheapest option. Plus, once you put in enough miles on that chain, you'll need a new cassette soon anyway.