318 power?

Get real. You want to compare, then compare apples with apples. The 302 Ford was their economy engine. So compare it with a Mopar 318 or GM 305. In emissions guise these all had crappy cams and lower compression.
You want to compare your 340, do so with the competition performance engines. The 340 was a performance oriented engine. Not all the 350 competitors were performance oriented either. Ford and the General built many 350 cube engines with 2V carburetors. Compare with 4V 350 GM or the Ford 351W and 351C engines. AMC 304 was an economy engine while the 360 had more performance potential.
Dale, I did not say 302 but did say 5.0. Maybe I should of added 90's Mustangs that had 5.0 badges, dual exhausts, manual transmissions and romping cams. Would also add, I never pushed a run on the streets, so if someone wanted to "HOT DOG" it and it was a safe street I would take them on. Don't know if they had 4 bbl carbs or fuel injection, but the 60's Corvettes I have run were all 4 bbl's, but do not know the motor CI, but even the 327's had more HP than the 340's. I do think I'm comparing apples to apples. With you quote on performance potential, that would depend on what you need. A small roundy - round track, I would want a short stroke small block motor than a large stroke any size of block. As a top end motor, you may be correct on the long stroke 360 over the other motors mentioned.