Well, you need heads, Edelbrocks roughly $1500- $1600 a set. There's half the budget assuming the 318 itself is free ... I am just trying to figure the actual cost. I do not believe porting 318 heads will get it done (300 plus horsepower) mainly because its not the same casting as the 340-360. I am starting to think this rationally I mean on one hand if you get a good 340 you are basically one hundred horsepower up on the 318 right out of the box, you could squeeze more with minor tweaks (mild head porting etc.) what more would you need the "re ring" and bearing kit and possibly a cam of choice. On the other hand, you get your 318 for free but then you are scrounging up parts like heads and intake/exhaust manifolds (assuming the 318 is a stock 2 barrel deal.) and doing machine work... that money spends fast especially these days...I think this scenario is still questionable, id have to see it done ( 340 hp out of a 318) then ask the guy/gal what they have in it money wise. It definitely seems like alot of labor converting a 318 to 340 HP specs