I have done the same back when my 340 was on the stand. I spent about the same. at the time, the most expensive thing was the Edelbrock intake which is now on the 340. I used the same summit cam Im sure. it ran good, stock 318 with that cam, eddy intake and 600 Hooley. It was total low buck deal...same reason just to run it while I get the other engine together. younow waht that 318 ran good. i had old heads come up and say "is that a 340? that sounds good...