340 build help

I know my initial posting was not clear in the specifications that I desire to get out of this engine build. I think it's because I don't know what my potential range is with the budget that I have. Therefore, I didn't want to get carried away and say something unrealistic. I would be more than happy with 300-400 hp/tq as long as I am not cutting corners to do so. I would rather have less horse power and more reliability and longevity.

On another note. I know and agree with the above statement about not trusting the word of another person that is trying to sell their old mopar engine, however, I saw the wrecked Mopar in this mans garage with the drivetrain in it. He started it up and ran the engine for me before he pulled it. Furthermore the odometer read the same mileage that he told me. Sounded like a very unfortunate man who lost his baby in a rainy day wreck. Again I know that he could have been bending the truth, but given the situation I think he was telling me the truth. That being said, I will definitely check the compression and pull the heads to look at the cylinders and valves. I will rebuild the bottom end if necessary and forget about making more horsepower if that's what it takes to get it in. Then maybe later I can ask you guys about more performance options... Thanks!