Need help with a logical plan

Well said, Flyboy. Another option to consider, is to build the 318 that is in the car now. That is what I am doing. Don't think that you can't get power from this motor. There are members here that have 318s that run the quarter in 12s and I know of at least one member that runs in the 11s, and are still streetable. You stated that engine has a recent rebuild. You could start by getting a better set of heads(302s,Magnums,915s,etc.), a better intake and carb, good cam with a set headers, and a good ignition source(MSD,etc) and leave the bottom end alone for the time being, and get a substancial increase in power, and you do all this with the motor in the car. You can go on from there. Below are two of many articles on building a hot 318. Mike

http://www.geocities.com/alwest_83/318?200721
http://www.carcraft.com/howto/116_0401_318/index.html