302 heads

I don't see the 302's as 'bad' rightaway here. But.... the 9-9.5cr requirement will put them out.
And.... don't all 340 pistons end up sitting above deck? That would kill off any closed chambered heads as well I would think.
Not completely; it depends in which pistons the OP has in his 340. For example, the Silvolite 1267's sit maybe .002 above nominal deck, and have 10 cc's of valve reliefs, so they would come in at 9.6 SCR with standard Felpro 8553PPT head gaskets and 60 cc chambered heads.

SO, OP, we need to have more info to answer your questions. Can you post a pix of the pistons in your engine block, so we can get a better idea of what you have to start, and then work from there? I can think of 4-5 different pistons that you may have and that needs to be nailed down to figure this out.

And OBTW, OP, the stock advertised 10.5 CR for the 68-71 340's was not reality.....it was more like 9.75.