318 LA hp and torque question

I'd say with intake, carb and headers/dual exhaust you'll be lucky to get close to what the factory rated it at. In addition to those things -ported, closed chamber heads, thinner head gaskets and a decent cam (a lot of guys including me did the xe268 from Comp) is probably the best recipe for success given a stock 318 short block with it's lame pistons.