318 rebuild suggestions

^^ What he said.
..And compression would be the number one thing on my to-do list.

I've put 340 top-ends&cams on/in LC teeners a couple of times, turning them into off-the-line slugs, that had great passing-gear power at hi-way speeds. Not my idea of fun. The band-aid fixes for that are gears and hi-stalls(mo money, and less fuel-economy).
Bin there/done that,............ never again.