318 Senior Project Build

I'm reading a little bit of conflict here as you say this is a "Senior Project". Maybe you can clarify exactly what that means? Is this build to be graded or subject to some scrutiny from your school? Is it for the engine only? A 400 hp 318 will desperately need a supporting cast of torque converter and rear gear to operate properly.

First off, i'd throw that horsepower figure out the window. While you can cam a engine like you're talking about to make something close to 400 hp, the reliability and drivability would suffer greatly in a highway geared car with a stock torque converter.

I'd find a good machine shop and "blueprint" the engine to the hilt using the components your thinking of and what you already have. Using the proper cam could still put it in the 300 hp range, have street drivability, and last for tons of miles.