Getting a 318 running?

Yep, those copper coated rods were done by Chrysler to fix problems/add weight is what I've heard as well. I have one in my 318 as well.
I'd do what everyone else has said, pull heads and check bores, pull a few rod/main caps to check bearings, or just buy a freshen up kit/gaskets and put all new wearable stuff in it.