I think that you should be able to run whatever gas you run at sealevel for equal compression measured on the gauge.
I.e., if you measure 180psi (35cc domes) at sealevel, and you measure 180psi in the mountains (33cc domes), you should be able to run the same fuel.
There is less air at the altitude, hence less compression for given dome size.
You're not changing the volumetric ratio of the fuel air mix....you're just decreasing the efficiency of the motor (hence power loss).
I'm probably wrong though.
I think you are right, from the way I understand it. Less air = less power