360 heads on a 318, I know it has been beat to death...

I have read all that I can on this subject, and there are quite a few good articles out there, but in the end I am just as confused as I was when I first started reading! I am getting mixed reviews and not sure where to go with this. I have a 318 bored .40 over, Air Gap intake for it, Edelbrock 600 cfm carb and I have a set of 360 heads that I was considering putting on. I took them to the machine shop, and he wants close to $700 to re-surface them, add new valves, guides, springs and all the other machine work on them . I am not sure if they are going to be worth it or not. I am attempting to build this engine on a budget, and I am also not trying to build a "perfect" drag engine, just something with a little punch to it and fun to drive. My fear is that I am going to continually put more money into it trying to get it to run right. One of major concerns is that the cam I got is way to big for it. (that is what I get for listening to a "Chevy" guy!) I have a Crane Cam 467/494 (summit part # crn-693802).

Is it possible to get the motor running good with the 360 heads milled down and that cam setup? This is the first motor I have ever built or been involved with building, so when the talk gets technical, I tend to get lost.

Any good simple advice out there?

John