318 stroker using Scat crank
you opened the box ir3333...:)
this one has been brought up before. It's not typically preferred because of what bomber mentions above in regard to the cost of machine work (and I'll add lack of selection of high quality performance minded pistons). 360s have a different main journal diameter, so your choice for dropping a 360 crank in a 318 block are to either buy a new crank for $360+ or have the stock 360 crank machined down like .300"...which, that all depends on your local machining costs. And as moper mentioned, the pistons he's talking about using are basic cast flat tops with no valve reliefs, so unless you have them custom fly cut, you will run into a limitation of lift/duration for the cam you select.
It's not an intrinsically bad combo, but unless you have access to cheap or free machining, it's not optimal for most, and buying a running 360 is sometimes cheaper in the long run...but it's the beauty of the choices...you don't have to do what everyone else does...