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

that'd come down to the desired street engine spec and cost of $3000 easy enough. lots of your quoted parts aren't what the build was about unless as some here would have you believe the 318 needs to be almost a 'race' motor to compete with the 340.
Depends on which year 318 vs which year 340 doesn't it? Are we taking about a race or a dyno pull. The OP staes "faster" I woul think that means a race. there are alot of variables, I would thing the cars would need to be near identical in weight, with compararble drivers, same gearing and trans etc.etc. But I dunno I am kind of stupid I suppose...:)