Guy with a similar combo just did a cruise, another thread praising how it throws him in the seat:
http://www.forabodiesonly.com/mopar/showthread.php?t=275445
http://www.forabodiesonly.com/mopar/showpost.php?p=1970421053&postcount=48
318's can rock just fine. With mild cam's you CAN have too much gear, 3.23 is good for a 268. When it comes to power, it's a balancing act, combination, not just one thing. Having the suspension setup is just, if not more important.