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

I am sorry, I was off by 3CI. Its a 265CI 6 cylinder Hemi. With shipping it was upwards of $7,000 Aus$.
He has a 71 Australian Charger that had a blown up 265

Wiki
"The top of the line performance engine in the E49 Chargers produced 302 hp (225 kW) at 5600 rpm and 320 lb⋅ft (434 N⋅m) of torque at 4400 rpm. The increased power is due mainly to a more aggressive camshaft, high-load valve springs, triple 45 mm (1.8 in) DCOE sidedraught Weber carburetors, tuned-length exhaust headers and a higher compression ratio of 10.0:1."

I am into early Dodge, Desoto, and Chrysler Hemis. The numbers did not ring a bell. Now it makes sense. Thanks