To Stroker a 360 or Not
If you want a good torque and hp increase on a budget, this is my thinking. Go with a good 5.9 Magnum running motor, put a small performance torque cam in it,(you will need a roller cam with a long nose like for a 1990 motor) a cross wind intake and the timing cover , pump and pulleys off your 318, and it will bump up the power fairly well. The next stage in power upgrades IMHO would be EQ heads with a little bit of port and valve work. Next would be add a striker kit and a bit bigger cam. Ask yourself just how much you want to spend on hp, the price per hp goes up a lot faster than the increase in hp.