I might cry

Cory: If I remember correctly, you bought that 360 out of Washington state didn't you? And you're running a full ignition system from the same folks? Before giving up on that 360, I'd find out why you're underpowered and why the engine is pinging. If you're getting that much ping even with the timing backed off and running 94 octane, the first place I'd look is the ignition system. Second, what's the final compression ratio on that engine, and then what cam are you running, and was it installed correctly? What heads do you have on there, and did they come with the engine? I'd hate to see you throw big money at your 340 when you have an almost new 360 sitting in there. Remember, even if you have to change out the complete ignition system, or install a different cam to bleed off some compression, it will cost a pittance compared to building your 340 block. Why don't you get together ALL of the specs on your engine, trans, rear gears, etc, post everything here, and I'm sure with some time and patience, we can get that 360 running to your satisfaction. Right now it seems you're running out of patience, and that could cost you big bucks. Give the folks here a chance to help you through this, then maybe you can enjoy your car again next summer. :)