Recommend Head Rebuilding

That's a pretty nice little street cam-if you're planning on running that one, I'm with 72...might wanna choose some different heads...you'd probably have to advance the cam about 6-8* to have any kind of low end because of the static compression being so low with the 308 castings. "302" heads would indeed work to keep your compression, but if you're going to go the trouble of swapping heads, consider magnums and convert the top end to accept it, or EQ mags with the LA bolt pattern.

A stock bottom end 318 usually has pistons about .040-.060" in the hole...assuming that, a true 62cc chamber with .040" head gaskets would net you ~9:1 CR...and that should be enough to make some decent use of that cam. Now, all that being said, you'll still need to have the heads checked out for the cam (maybe spring change). And you still could benefit from advancing the cam a couple degrees.

Do yourself a favor and make use of that search function-there are dozens of folks on here who've had the same or similar questions when building up a 318.