Very Mild 318 Build

Ty; 1969 318's were pretty peppy. Factory specs are 230 hp @ 4400 rpm. 9.2 to 1 compression. 340 torque @ 2400 rpm. 140 lbs comp. Initial timing is TDC if it is the stock distributor. I wouldn't stray too much from this. Maybe 1 step higher on the cam, but not near a 340 cam. A rebore, if necessary. Grind any high spots from the combustion chamber to prevent hot spots. Grind any rough casting from the ports in the area under the valves. Do a gasket match for the intake and the exhaust manifolds. Heat riser valve must be free. Crossover passages must be free of carbon. Single exhaust is OK for now. Duals can be added later for more HP. New cam bearings, rods and mains, new standard oil pump. Check crank thrust before disassembly. A good valve job with seals. Throw the old timing chain on and take a compression test.

That ought to keep you busy for a while.