I am wandering the same thing. I am gonna be running a 318 with just bolt ons maybe different factory heads but still mainly bolts. Carb, intake, headers, cam stuff like that. I was wandering if it was possible also.
I personally think it can be done. Obviously if everything were performing at optimum capability (rings sealing, better compression etc.) it would be a piece of cake. But that's the challenge - how well can you make make a 40 year old low compression engine run with bolt ons?
Guess I'll just have to do all this crap and report back! Was hoping to hear some success stories though. Has to be a few of them out there, there's so many 'built' 318's running around. ;-)