318 with 360 heads

Agreed and his advice is a good way to go.
Are new pistons in the future? The 318 w/360 heads could use better pistons. Keith Black (KB) has pistons in Hyper and forged. If you have the cash for a rebuild, I would go this way over milling heads. Though it is not a bad option. The Magnum head option I'm not all that ($$$$) fond of.