In need of an education..340 vs 360.

This started out as a 340 vs 360 mild build now its full blown money pit.
Well for that instance My brothers step-father is a huge a body guy,he must have 8 or more swingers and some coronets and a few belvederes,anyways his race buddy has a 318 that dyno'ed at 713 or 723 HP(cant remember which one).Nothing stock but the block.So is the 318 in this bench race now?