318 1/8 time improvement

I don’t think it can rev up fast enough
In the lower gears, you need Torque multiplication to do that.
In top gear, once wind-resistance gets up, the engine needs more power to do that.
More stall will get you off the line a lil quicker, and thru First gear a lil quicker mostly due to the quicker 60ft.
Trapping not nearly close on the power curve, will cost you more than the gain, of that higher stall. With 3.55s, and 26.5" tires, and assuming 10% slip in the TC, your rpms are gonna be around 5530 in Second and 3810 in Third. Neither of which are remotely correct for that [email protected] cam.
Whatever stall you now have, and whatever stall you get, by the time your car hits 40 to 44mph/shift-rpm, the slip will be about the same; therefore, whatever advantage the higher stall gets you off the line, that power delivery difference rapidly diminishes after the torque peak.
That 203* cam is gonna power-peak close to 4500, but the peak may be hard to pinpoint. In any case by 5000, the power is rapidly falling off. So lets say you outshift First gear at 4800. On the shift, the Rs are gonna drop to 59% =2830.... so your 3000TC is gonna give you 170rpm over the 2200. But you're doing 40/44 mph, so you'll be thru that advantage in the blink of an eye.
To trap in third gear, that combo wants 4.10s to trap 80=~4600, or 4.30s to trap at ~4800. Either of these are gonna wind your 318 up pretty quick.
The 4.10s will give you a lil headroom in case you later decide to pump the compression up.
In any case
I highly recommend a compression test.