70 318 with 340 internals/Cyl Head

A 318 - .030 or not can be a potent engine if you can get a hood compression ratio to work with the cam your intending to use. That Torker intake….. Is it a Torker or a Torker II 340?
There very different intakes. Consider there rpm band another 300-500 more rpm on the small engine.

Your better off IMO, with a modified Offenhouser or Holley Strip Dominator. An M1 single would also be very good.
However this is closer to a race build with those intakes.

You can’t beat a Edelbrock RPM