Should I sell?

Well you have a rebuilt 340, why build another engine?
Do you think you will make enough to cover a new 360 if you sell your 340?

I think the main concern was leaving the motor on the stand for an undetermined amount of time. It is in a un-insulated closed garage. It does have oil and coolant. I turn the oil pump over with my drill every couple weeks to keep the oil flowing. However, I am worried that it is going to get damaged or rusted from sitting.

I am not sure how much I could realistically get for the 340, to be honest, but I know about how much I'd be in the 5.9 for based on talking to magnummopar