Good choice on the cam.There is too much emphasis on hp.
Small blocks are usually lo on torque and squeezing 300 plus hp out of a 318 requires a cam that will hurt the small engines' bottom end even more.
A lack of lower end power might not be the worse thing, traction is hard on the street anyways, you can usually go around 215-220 @ .050" before bottom end starts dropping off in any dramatic way.
To me most stock low power engines work from idle-4500 rpm the trick is to stretch it up to 5000 - 5500 rpm without effecting bottom end to much. 5000-5500 is good for about 1 to 1.1 hp per cid after that your more in street strip territory.