1988 Roller Cam 318 'entry-level' power potential?
MOPE- I myself have not messed around with a roller 318. I have many times in the past fooled around with the regular Hyd. cam 318's starting in the same fashion.
I do not think the MSD is overkill. No way, no how. Just make sure that vacuum advance distributor is well tuned and timed.
3.07 gears? Are 3.21's to high?
I took a '74, 318 and gave it some bolt on parts and a cam. It went really well. The key for more rpm is cam and matching springs. (of course)
Do you have an intake yet?