if i build a BUDGET 360.... LA Vs Magnum 5.9

First off, get your terms right. There is no "906 transmission". It's likely a 904. To answer your question, it's always easier and cheaper to get what you have running. I'd stick with the 318 for now and maybe try to score a 5.9 Magnum to work on while you actually still have something to drive.
thanks for pointing out the Typo...fixed