Need advice on my 318

If I get the head milled by a conservative amount AND used a thin head gasket, could I get up to 9.5:1 and not have to shave the intake?

I'd recommend .020 on the block side, .019 on the intake side of the heads. That way the heads are matched and you can use any intake. That will get you a little more compression and get the heads to seal to the block. Get the guides tightened up and a performance valve job from someone who knows what they are doing. Next a good set of rings, Speed pro file to fit. If you get new pistons, bore and hone with torque plates. The four barrel carb and intake, cam with a round 268 duration, valve springs to match a double roller timing chain, and a windage tray would be nice. Should be pretty sweet. All assuming you have a decent engine to start with. To be really cheap, gaskets and seals, do the heads, rings, rod bearings, cam stuff and carb and intake. Dual exhaust down the road...