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

I think a low mile junkyard 5.2 long block with some UTAwesome Beer kegger mods ($99 for the three piece kit), UTAwesome Big Mouth 1200CFM TB ($499 no core or $439 with core), a Lunati Voodoo 270/279 Retro Roller Cam ($285), a step up in Beehive springs for the 0.530 (Using 1.5:1 rockers, but a Mag is 1.6 for 0.565" lift cam) ($250), A complete 'Head gasket' change kit from RockAuto $50-$80 and a nice home done port job on the heads will get well over 330 HP for less than $2000 and that is with buying the junkyard block. No over boring or stroking and using the stock Iron exhaust manifolds and the OEM Kegger intake.

AND ITS STILL A 318CI

Lunati Cam spec's:
Retro-Fit Hydraulic Roller. Great mid range torque and power. Likes 2000 RPM stall converter and works great in towing applications with lower gearing. Advertised Duration (Int/Exh): 270/279 ;Duration @ .050 (Int/Exh): 219/227 ;Gross Valve Lift (Int/Exh): .515/.530 ;LSA/ICL: 112/106 ;RPM Range: 1800-5800


UTAwesome Magnumn parts UTAWESOME PERFORMANCE

It seems that online engine reman places its around $1,700 and up for a 318 magnum long block so that would leave 1,200 or so to finish the build myself I think that is very feasible.
Get that reman 5.2 long block and add some sort of what I posted and spend less that $3000 for about 330 HP. That is a mild cam too, there are hotter rollers for around $350. where the switch to rollers costs more is in the retro lifters for the short lifter bore of a LA. The Mag block has taller lifter bores and a set of new ones are like $5.85 each from Rock auto, but the reman 5.2 long block has these already.....