318 Power, with real street manners ?

Hp is built through a combination of torque and rpm. Since you want very streetable package rpm is out leaving you torque. And basically torque is displacement and how well you fill it "VE". A decent built motor will be around 1.15 - 1.25 lbs-ft per cid.

Now hp, the streetablity you discribed is about 0.9 hp per cid give or take a 0.1.
440 = 396 hp 360 = 324 hp 318 = 286 hp.
If your plan on running under 3.23:1 and low stall you want everything to work right from idle especially if you have a heavier car with small ish displacement. The more stall and gear you add the further away for idle your powerband can start. 1500 rpm to me would be the limit for a streetable package. Basically a powerband between 1000-5000 rpm.

So basically the bigger the engine the more streetable power you can make.