Pick up a 318 or continue my search for a 360

If you decide to use the 318 for now then do a compression test if at all possible before you buy the engine. Since it has a transmission and converter you should be able to run this test. If you can't hear it run then this is the next best thing. Depending on how complete it is you might be able to test fire it on the ground. That's what I did with mine.

I ran my 318 until I was able to find and build the 340 I have now. No regrets about it at all. 318's are cheap and they're great little engines. You could drive the car and enjoy it while building a mean 360. With a little larger cam, a 600 CFM four barrel and some headers, the 318 might surprise you. Mine would burn my 295's to the ground if I let it :burnout:

Both are good engines. Which is "better" just depends on what's available to you and what you plan to do with the car.