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.
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.