Today, dollar for dollar, is the 318 faster than the 340 ???

FABO is so great for following the OP :) Post 4, we bring in the 360 which is NOT part of the discussion.
Your premise is "Dollar for Dollar", so why not consider the 360. Regardless! It also sounds like you really like 318s, and are trying to convince the rest of us. OK! IF we are strictly talking about a FIXED budget of $3000 total, I would probably have no choice but to find and build a 318. Don't get me wrong, I like 318s, but I like 340s much better. Depending on what you pay for the 318, you will be hard pressed to have normal machine work done (hot tank, bore, hone, new cam bearings and grind crank) AND buy the rest of your parts. You would for sure have to be able to do all your own work. I can't imagine buying a motor, having decent machine work done and buying new pistons, rings, bearings, cam/lifters/springs, timing set, gaskets, performance intake and performance carb for $3,000. And if you say that you were not planning on doing a rebuild, and were just planning on stuffing performance parts on an old, worn out engine, that is kind of ridiculous. I will ALWAYS go with a 340.