1973 340, want more power.

I have to disagree with MOPE a good bit working backwards on his list and say that the 340 has the HP advantage without a doubt. Not the torque. (IMO at least.)
2nd, pulling the 727 for a 904 is a pricey thing that includes driveshaft work.

IMHO, the following parts would be a better bet.
Open air cleaner
750 Holley/800AVS Thunder
RPM intake
RPM heads with some minor work done
(This over stock heads with a bowl porting and 2.02's.)
1-3/4 header - 2-1/2 exhaust
3.91 gears

My only two concerns are where the pistons sit in the hole and the cam to be used. These two areas as I read the read are a bit grey to me due to your goals. One feeds the other and to properly answer the question i need more clearity.

True I guess I was just thinking out loud; I'm personally peeved by inefficiency so those are the first places I tend to look on these old cars. Totally forgot about the driveshaft needing to be longer, duh. I still wouldn't really recommend doing anything regarding the heads without knowing for sure the condition of the bottom end and how much actual compression you have. Correct me if I'm wrong Rumble but wouldn't a set of RPM heads after being gone through and assembled with good parts be like $2000? I think it would be worth a shot to do a cam and intake swap first and see how it runs with the rest of the stock engine parts, just to save a bit of money in case that gives you enough of the kind of power you were looking for.

I'm coming from the angle of someone who is new to the whole classic Mopar thing and wants to try learning and doing things himself. Doing upgrades in stages I think is more "educational" lol. But whatever, it's the OP's choice not mine :)