Easiest/Cheapest way to a 4bbl 318?

Ok, forgive my ignorance again here, but when you say to take .030 off the head, are you talking about removing that much material off the "bottom" of the head where it mates to the block? If so, wouldn't this screw up how the intake aligns with the heads?

And I'm guessing the point of this would be to increase the compression ratio?

Yes and yes, you have to mill the intake side a certain amount for every 'X' amount taken off the chamber side. Somebody should know the exact numbers, I can't recall them right now.

New springs are a good idea too, it's a real bummer hitting valve float at 5000 RPM when you know it can keep going.