i have a 1977 360 ( iknow, i know, not a 340) a believe me.. i can go to a .080" overbore no problem,
and with no reliability issues. another .030" shouldn't be a problem. always sonic test!
I test anything over .030 over, and everything going to a longer than staoc stroke. Some "great" blocks are usable for some things and not others...lol