How realistic is this budget built ? 400hp 318

That's not a 318, it is a late 70s X block, aka "race block" if I remember correctly it was 420+ cubes with W2 race heads. That engine was for sale here on FABO a few years back. The X blocks had a 318 casting number, so perfect for grudge racing!!!
It was a 318, with a forged 3.31 stroke. I was offered the entire engine for 4500 bucks. I know the exact ET it ran. He now has a bigger cube motor but still a small block, which I do not know the details of.... Here is the car now, notice the chute, and still on 26" tires :)