Today, dollar for dollar, is the 318 faster than the 340 ???

318willrun said

so you got the 318 as the faster engine too. I agree, on a small budget one can't afford to spend half of it on a disassembled 340.

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That's a big negatory. The 318 is a neat little motor, but will never touch the 340. I don't play the budget game. You get what you can afford.