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

so you are saying a furd or chuby is better than any slopar because you can build them faster and cheaper
I see where you are coming from, but not the same. If you want to compare a 302 vs a 351C, then you'd have the same arguement. 351C to the Ford guys is the faster engine, but can you buy and build it to go faster than a 302 for 3k ???? That would be a great question on a Ford forum...