I honestly don’t see the interest in a 318 when there are 360’s out there so cheap. If someone called me and offered me 50.00 to come pick up a 318 and haul it away for them I wouldn’t do it.
That’s beside the point here. If you are shopping for a small block, sure. You might as well go for the 360 because they are all relatively cheap
If you already HAVE a 318, the comparison isn’t worth your time. These are smooth, torquey, reliable, bullet proof motors as good as any other workhorse small block motor of their day. With a cam/manifold/carb/exhaust swap, they can be made to go pretty darned well.
I know that my 318 was enough for me as an 18 year old, tire-burning hooligan to have plenty of fun but to live to tell the tale. Any more power and my car might not have survived to be with me at 40.