318 and 360 small block question
318’s are more plentiful and cheaper in initial cost. Make sure you check availability and cost of parts for a rebuild as in pistons, rings, bearings, gaskets and the like. Earlier year blocks, 1974 and earlier have thicker cylinder walls and can be over borded larger. But this does not mean all earlier blocks can be, you have to sonic test for thickness like you should any block before rebuilding.
That being said, a 360 even at a stock rebuild will have more torque and power than a 318 for a comparable level rebuild. If you have a heavy vehicle, truck, B or C body, you will more than likely want a 360.