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

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
I agree, a newer 5.2 with a $3000 budget could make for a decent engine. a 318 LA not so much.