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

OR twisting a persons words around to prove their point.

When I said a "stock but tuned 340" I mean stock bore/stock stroke/stock cam for the car/stock iron heads/stock iron exhaust manifolds/stock iron intake manifold/stock size carb (Like in STOCK from factory) and you can advance the cam and adjust the timing to your best, called TUNING.

Not all of us can just sneeze $35,000 out our left nostril for a full tilt engine to put in to a $75,000 car and then challenge any 'Teener'.
In all reality the engines should be whatever the builder wants to do. The 318 guys aren't going to be using stock heads for example.so the 318 guys can mod all they want but 340 guy can tune. Sounds like "Just wait while I attempt to convert this 318 to a 340 and we'll race..."