318 build!!!

Your not running low octane fuel with those
Pistons and 318 heads.

Purchase new rods. It's cheaper than fixing/reconditioning the old ones.
Don't worry about if the piston floats are not. The rod makes that choice for you. There is no power differance that you could feel between the two.

Replace all bolts and nuts with a quality unit. ARP, Pioneeer etc....
Studs? What studs?

Max valve lift can be altered easy. Have the machinist fix that. That valve lift is low. Don't worry.