I think a bunch of other stuff would have to had been changed as well - converter, gears etc.
Either way, I'll say it again, it's a good combo, at least on paper.
Just to add, a 'stroker' 340 is going to be a different animal than a .060" over 360. Though it's only a small advantage, the 340's smaller main bearings will rev quicker and produce less friction which = free horsepower. It's just a better foundation.
If you think about it, a 340 is more race-inspired. I mean, R blocks are based on 340 architecture, no? During their production run, 360s offered little in the way of performance and were essentially designed for trucks and heavy cars. Of course they can be built to do whatever you want them to do but at the street/strip level we are talking about using production blocks, I believe the 340 is best.