Today, dollar for dollar, is the 318 faster than the 340 ???
My 1984 Dodge Shelby Charger 0.059" (138ci) over Holley/Weber Carb was at 1.3 HP per Cube and I drove it on the street. Even commuted 84 miles round trip to work. Got 35-38 MPH in 5th @ 65 MPH. Mid 14's on a 138 CI FWD car. Had a 3.05:1 Ring and pinion.
That same engine with a ported TBI intake made to take a 465 CFM Holley and a Long tube was putting out 1.5 HP per cube. That header made the whole car shake with the 4 pulses till I put a 18 inch long 3 inch collector on it. High 13's in a FWD car squalking the tires in 3rd, 3.87:1 R&P. The only reason it did high 13's total lack of traction in 1st and 2nd gears.