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

Have you never heard the motto in the fuel pits??? I may not get it exactly as they say it, but this is close. Measure it with a yard stick, cut it with an axe. There isn’t much precision in a fuel engine. Clearances are humongous. Pro Stock is a different horse altogether. You don’t see them slapping new bearings or pistons in at the track. They have much closer clearances and tolerances than a fuel engine does. They run water thin oil where a fuel burner uses a 70 grade oil that when up to temperature is more like fudge than oil. Two different beasts for sure.
Oh my it's the line bored, coreshifted, tight clearance forged piston, half assed balanced soap box standing guy. Back to tell the lowley peons how to build a engine right.

We ain't so smart boss but we can lift heavy thangs.

Meanwhile for the purpose of this thread I'm going to go yank one of these running 5.2's out of a ram or dakota that's been factory proven and still running. Then maybe do some valve grinding/polishing.
Then drop a camshaft in it. And put it in my 72 duster and go out and embarras quite a few of the $6,000 boat anchors. And have maybe $1,500 into it.

Thread is 318 or 340 you have $3,000 what you going to do? No more than $3,000. No saving for more money , no pimping your sister or mom out for more money I'm going to take the 318 on that all day