Thanks for the info and opinions so far guys. I am confused, don't you have to do a bunch of wiring harness stuff to install a newer magnum motor? I am looking for a bolt and go or spend the next 3 years trying to save $$ for 340 build. I am not flat broke but my wife is #1 on my $$ concerns.
It will be far less expensive to run an LA engine than a magnum swap. If you want to save money, use as much as you can of what you already have. If your 340 runs, use it and refresh it as needed to make it reliable. Everything else can come later.
You might sell the 340 for some cash. But what you get may not be any better than what you had.