Engine rebuild choices

A couple thoughts...

If your 318 is running now, and you just want to freshen it up I would get a Speed-Pro overhaul kit. This will get you a complete gasket set, rings, main and rod bearings and maybe a timing set. Keep in mind you'll have some bucks into your heads. You WILL need 16 valve guides, a set of valve springs, locks and possibly some valves. The cost of your head work can be offset by selling the steel crank. You don't need it! It's worth more to you in somebody's 340. If the bores and current crank are serviceable, I'd keep running the pistons you have and spend the money elsewhere.

Edelbrock "economy" intake? I hope it's not an SP2P. A basic 2176 Performer or older LD4B would be much better.

If you don't have a transmission, I do. I've been saving a (core) 72 small block 904 to rebuild and sell. Currently I'm launching a lot of stuff I had been saving. Lemme know.

Cam wise, I'd keep it fairly mellow. You most likely have a 2.94 geared 7 1/4" rear now. Keeping with the low buck theme, let's assume you run a factory replacement "high stall" converter from Transtar downtown. Same converter as a 340 car, later 4 BBl small blocks, cop cars etc... 2000-2200 RPM stall. So why not just run a factory 340 replacement cam and valve springs? The price is right. Or, a Comp XE 260.

BTW ALL rings are cast iron, it's only the face coating that's different. A typical moly faced ring would be best. You will need to do at least a glaze-break hone no matter what.