built up 318 oddly low MPG's? hp rating?

Honestly, in the end its hard to drive a project and work on it too. I suggest a commute beater to get 25mpg and put your money into your car the way you want. You state you are going to collage (and good for you) but, collage should be your main focus and not dealing with car issues. Get your education and get that good paying job then enjoy the hobby, because doing both is hard.