Swapping a Slant 6 for a V8
Even if your gonna start with a 318, I'd go with the magnum version. Both the 5.2 and 5.9 make around 300 gross hp. They both have good flowing heads and decent cr.
Just going magnum with 4bbl and duals you already have a sweet setup. Add headers and cam if you wish down the road even better. If not got a decent powered with reliability.
Starting with a LA 318 great engine but lack of cr and limited head flow. Even with 4bbl cam and headers would fall short of the stock magnum.
But I'd grab a 5.9 magnum better torque.