Possible cam install

Dont cut the intake!!!
Take the heads and get them cut on the intake side.
While they are there have them check the retainer to guide clearance your cam is really close to the lift required to interfere.
The 340 springs are ok they are good to .510 lift if the recommended installed height is set properly.
If using stamped rockers dont buy push rods cuz if you upgrade to roller rockers later you will have to buy pushrods again since they will need to be shorter and have a cup instead of ball
You can shim rocker shafts enough to correct the amount taken from the heads
But if you dont do either of those just make sure you turn the engine completly over by hand before using the starter
.045 is probably not enough to bottom out a lifter but better safe than sorry

and t67 is your motor 9.5 compresion with 318 or 360 heads
zakomodo said his motor was 9 something to 1 with 360 heads and .045 milled off them
I'm not sure this is correct
I had a 318 that I put 360 j 2.02 heads on and I milled .100 off them and I figured it to be 8.9:1
Now it seams that if you milled .45 off a 318 closed chamber head you would be at 9.4 or so compression
that is why I asked t67 what heads are on his motor
maybe someone could correct me