I did that once, even with a 318 cam. Engine had a crapload of torque , all the way to about 4000 and beyond. She went 5000 easy enough, but with hiway gears, that was more speed in second gear than I cared to achieve. I called her my big-bore 318, and I have fond memories of that combo.
I built a 318 once and tossed the stock cam. i wish i had kept it I had later read that the stock 318 2 barrel is the best configuration of that engine it did what it was designed to do.