Today, dollar for dollar, is the 318 faster than the 340 ???
I also would say that if you buy a LONG block and want to replace every bolt that CAME with this engine, with ARP type bolts, that should NOT be subtracted from the $3000 as you are not going to get 10 more horsepower.
BUT, if you bought a SHORT block that did not have head bolts and want to slap on aftermarket heads and want ARP type bolts, that money should count as you are not replacing 1 for 1. You chose not to buy an engine with the bolts up front.
Where to draw the lines?