Seeking 318 rebuild advice

If you are going down to bare block I always run a long 9/32" drill through the main bearing saddle to right (passenger) side lifter oil galley. I have found this oil hole to the crankshaft to not be fully drilled and "stepped".

A 340 4 speed cam is good, I am using a Comp Cam XE 256 H and is a great street cam for a mild build.