Honestly would need about 220ish HP or so to be better than a 240Hp 340 with less stall and gear.
Pick and pull charges 275 for a 318, they are in most of the trucks and Jeeps. For under 2k, shouldn't be any issue to get just at/over 300hp- prolly even more and still have a DDable ride.
Torque doesn't not typically go hand-in-hand with lack of power.
Same, same. I have an $80 340, I'd take a $400 360 Mag, but for drivers- hard to beat a 318 Magnum's price point.
Pretty much. When you see much larger, lower torque and power curves- that will be a stronger motor throughout the range. But it takes the whole picture to get a full idea.