Pieces of steel in cylinder??

I'd rebuild the 318 .060 over with sealed power smooth flat tops set in 180 degrees from standard pin offset (piston slap when cold, but you can live with it) and moly rings on a 400 grit bore finish, put some fresh 302 heads on it with a good three angle grind, get the intake milled to match if need be (mine had to have a cut after the block cut, but I doon't kow the exact details of how much) and use some .039 composite head gaskets. Add in a sealed power CS1019r set in at 100 degree ICL (Thank's Rusty!). Tack on a set of el cheapo headers and a pair of dual exhaust. Do a mild recurve on the stock distributor, about 16 degrees initial and 18 degrees advance all in at about 3000 RPM. With the stock two barrel intake and BBD, you will be very surprised at the outcome. Add a Weiand action plus and a 600 CFM Edelbrock AVS II, and you won't believe it's the same engine. If you have a 7-1/4, you'll have to upgrade it in the near future, even with the two barrel deal. This combination even tolerates the freeway flyer 2.76 gears well.