That 74 teener the pistons hit TDC .080" - .100" in the hole. That coupled with the stock open chamber wedge heads gives you about 8.0-1 compression. Smooth running, and can run on rat piss, and run forever. Shitty for orrformance.
You got the exhaust end figured out. Heres what you need for a fun 318. I am building mine this way as soon as the block and rotating assy is out of machine shop jail. KB167 zero deck flattops with 5cc valve reliefs, 302 heads. Port match the heads to a weiand #8022 stealth intake (Eddy LD4B clone) this intake has 318 sized runners. Use Melling VS-380 340 spec valve springs with inner damper, melling SPD-22 which is a 68 340 automatic cam, and an eddy 600. Use a .040" thick headgasket and you should be right around 9.7-1 compression.
Remember 318s have smaller cylinders than 340s and 360s. They can only draw so much fuel and air on an intake stroke. Make everything too big in regards to intake, cylinder head ports etc, and you will slow port velocity down and actually hurt performance.
Hope this helps
Matt
