318 vs 360

Ok I have a 73 duster 318/727/8.25 rear
I have an extra 318 long block (stock) and a chance to get a 360 short block (stock)
I have a set of j heads that have big valves and some port work
I am wanting to build a street machine that can hit the highway for a few hundred miles and still have fun at the track occasionally and smoke the tires

So that being said what is my best combination on a budget