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

I respectfully disagree, if you changed converters and picked up mph, it was because of a junk converter. A junk converter kills mph. Even the old mopar direct connection bibles use the trap speed as a MPH indicator, as does the moroso calculator. Its nothing new, it is physics. A lot of newbies think ET shows HP, but that is untrue.
I know it was a junk converter, precisely my point. So, if a car does 110 in the 1/4 mile, and weighs 3200 lbs, calculator says "***" horsepower. A guy changes converters and the mph goes to 113, calculator now says "***" hp. Reality, he always had that HP. Now, the converter is only ONE example of all the many things can effect the MPH. What if it's a full size Van??? Wind resistance will slow up MPH, but the HP is still there. That's why I said the calculator is generic at best for figuring hp.