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

One more thing about 5.2 and 5.9 Mag's....
All Magnum block oil feeds are:
1/2 inch to the filter and to the right lifter gallery feed, and 5/16" main bearing feed, and have 6 holes in the filter plate..

Free HP because of less restriction out of the oil pump.....
Magnums are an excellent choice. For the extreme low dollar guy to the 10k budget guy. They are cheap, easy to find, and either the 5.2 or the 5.9 is an excellent choice. Just put a 4bbl on top the 5.2 mag and you are so close to a stock '73 340 in performance you may not know the difference by seat of the pants.