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

I was just throwing a number out there. The 5.2 magnums vs the la they have higher compression and another better flowing head. 340hp out of a 318 magnum isn't hard and no trick parts required. I would bet that the hot Rodded 5.2 magnum would make more hp per second than a equivalent hp 340
Yes that Magnum engine 52.or 5.9 sounds like best bang for the buck, coupled with the modern tech EFI, roller cam etc.