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

Yeah but the abuse can be fun...LOL! Just kidding. I agree on a dyno run and have suggested that folks watch :Nicks garage" 340 run, I beleive Nick got 320 Horse out of a 340 fairly stock I also believe. It is true they were underrated at 275 from the factory. I mislead the teener guys by saying "300 HP" I think If I were them Id be aiming for 320-325 HP out of a 318..I also seem to recall UTG and Lunar Outlaws 318 only pulling 230 or something so all UT's grinding and porting on the heads did nothing for that engine in terms of HP sain when they are rated at 235 stock from the factory. I mean in all reality the dyno runs on each engine are represented, out there on Youtube. It comes down to "what mods" will the 318 guys do to get a 320 HP dyno pull?
UTG seems to be somewhere between a bit of fun and a laughing stock really so his results can be taken with a pinch of salt. the 320/325 hp 318 ought to fairly easy with the $3000 budget though in reality.