looking for 318 tips and advice

You'll get a ton of ideas, and all of them pretty much will help in a positive way. Here is a very low dollar 318 project I did about 5 years ago. You might find something in this worth noting. I didn't raise compression because of the "under 500" budget I allowed.
my Low dollar 318 hop-up project | For A Bodies Only Mopar Forum
This is the basic direction I was pointing to in the beginning of my reply and only added “Other Performance Parts” as time & money allow.
This is a good thread/video by 318WR