Cylinder wall weld??

....and the 318 is a 1969 with the higher 9.2 compression I thought ill just clean up the bottom end, put the aluminum heads and air gap on, and a comp XE274 cam which I have laying around and see how it works.
that's a whole bunch of cam for a 318 with that compression...

the heads and intake will support it and you likely already have a converter and gears seeing that you were previously running a 408. but, still, that's a bunch of cam without the cubes and compression to make the magic.