I would use the 273 balancer, since it has the timing marks in the correct position for the 273 timing cover (which uses the iron water pump with a driver's side inlet, so you can use your current radiator; which means the timing marks are on the passenger side vs. the 318's driver's sode marks). Balancing the new (different) rotating assembly would be preferable, but if you're basically doing a stockish refresh you could conceivably get away without a balance job, your call on that.