Absolutely nothing wrong with a 318 on the street. If you can't make one fast enough, you should stay home. See posts #58 and #63, it's that easy. I did it all the time, never had any complaints. And here I've been running an even smaller 273 for 50 years now on the street. Done 340 on the engine stand, 360's all sold off. Don't even think about post #59...
As for cams, it is a complicated choice since you have to know what you want and all the particulars of your engine, trans, and car. Call a good cam manufacturer and see what they want to make good choice for you.