Performance mixed with fuel economy!?

YY1- the vin starts BH29P9B, so it is a 340 car
318 WR- I prefer spaghetti also, am watching your challenge
Guys, thanks again; I don't want a hotrod, just a nice cruiser, I want to be able to take the grandkids for a ride and not make their parents worry. BUT the occasional burn out is still required. Therefore, I'm leaning towards a 360 with magnum heads, a mild stock type cam, and the 4-speed manual OD gearbox.
P.S. Just drove by our local gas station: 4.099 for regular, 4.999 for premium!