Early 72 340, is this one of the de-tuned ones?

That ridge is quite a bit of wear for a 340. The "de-tuned" 340 used the same block but with low comp pistons, cast crank and 1.88 intake valves. Take it to a machine shop and have them measure the bore to see where its at now. Judging by that ridge it will need to go at least +.010-.020. Have them check for taper as well.

Not all had cast cranks. I had an all original 72 340 Duster that I know had never been apart before I bought it that had a steel crank, it had the lower compression pistons and 1.88' J heads. When I rebuilt it the cylinders were good so I put a set of early 340 pistons along with a MP 274/480 hydraulic cam, stock intake with a 650 Holley and stock manifolds. It ran very well with just 3.55 gears.