318 cylinder head upgrade

Options on the cheap:

1. Port the 318 heads you have and have a good valve job done....
2. Get a set of 302 heads, they'll help your compression (my opinion they won't flow any better than what you have and they are often cracked)
3. get 360 heads and cut them .040, use a fel pro 1008 head gasket. I've never needed to cut the intake to do this.
4. Magnum heads - which will mean different push rods, lifters and either drill the heads for LA bolt pattern or magnum intake.
5. My opinion, 1 & 3 are your best choices.