Whats the deal with 340s?

340 was a pre-smog HP small block. The Govt. forced emissions on it and it became a detuned low HP engiune. The successor was the 360, a smog engine, similar to the 400 Chrysler B engine. Yes it is a 4 inch bore, but it never was comparable to a 340 when it came out in the early 70's. The cu in displacement vs Horsepower was a joke in the 70's. That's not saying you cant build up a 360, and the MP Crate 360's are great alternative for someone who wants a new drop in crate motor. The 318 is a good engine, but it was never meant for racing, the 340 was. Yes, 318s are popular now because they are drying up, I remember when people were pulling them to put B or RB engines in their cars, and giving the 318's away. I acquired one or two for free, and delivered to my garage already. Those days are over though.
The 360 wasn't the successor to the 340, as the were produced together for 3 years. The 360 replaced the 361 Big Block. All 72-73 340's were 'smog' engines. The 74 360HP was no slouch, especially when coupled with a 4-speed.