Cheap 318 performance mods.

Ya Ya. Hi stall is OK for more of a track car. With the stated 3.23 gears a 3500 stall converter will always be "slipping" creating heat and poor fuel economy.
With a short duration cam, a slight bump in compression, a 4 barrel intake of 2 plane design and headers, a lot of stall is not required to make a good street driver.
Now a lockup converter can change that, but most of the older transmissions do not have that option.
Dale, this is as false as it gets. Modern converters do not "slip" as you describe. You can have a converter flash to 5000 RPM and yet idle around like a stock converter on the street, until you do a launch. Then and only then does it flash to its given flash stall. Your thinking is correct though for the 70s and 80s. But not anymore. You really need to read up or call a good converter company, because you're giving out bad information here.