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

Well we know the heads 750 airgap set of headers are capable of 400 hp, which leaves cr and cam, so I guess question how much cam and cr you would need to get to 400 hp out of a 5.2l, the 5.9l crate only needs 9:1 cr and a 230 .500" 108 cam can't see a 318 needing all that much more.
Enough to make up for the additional 42 cubes of the 360.