Help! IDK where this setup was going!
Sounds like a decent selection of parts for a 318, though its likely short of decent compression if its still running the stock pistons. Certainly not an out and out racecar though.
If the noise is intimidating just put some decent mufflers on it - I ran a 318 in a much lighter car which sounded like it could run 9 second quarters but only went high 12s. It had straight through mufflers with no material left in them, I should have changed them out but I liked upsetting the neighbours (within a 5 mile radius).