Add hotter cam or Add hotter head ?

Maybe heads if you up the compression and run high octane fuel. 6 of one half a half dozen of the other.
Closed chamber heads will only raise compression a half point. If you are building a performance engine you will need pistons any way. Ones that make compression and a big cam to make it all work. Oh and headers, and a converter and rear gears. 318 is just adding to a stock engine. Even closed chamber big port heads won't help make a stock cam work. They are pretty anemic.