318 power?

I’d give it 400+ if it had a single plane on top.
Otherwise I’m with @JBurch

I don’t know what an 1/8 run would be, but if it is light enough and you get the chassis working and the launch right, a best of mid 12’s in the 1/4. Less as time goes on & things get more and more straightened out for the track.

Speaking strictly of the drag strip…
I think you can use more gear & converter myself.
But this is t a track car is it?

I was going to build a 377 of a 340 block I have, but couldn't find any this spring so I took what I have to get the car running so I can sort details out for next season. Plan is to build a mild and reliable mid to high 6's car for Swedish Street Week. The 377 will have a mech cam and tunnel ram on top and a 46RH tranny. And perhaps Trick Flow heads.