Inputs on a home built 318 for red light to red light fun

The motor was from a 1970 power wagon so I assumed it was a 8.4 or 8.5-1 motor for torque is this wrong ?
Yes and yes. More compression equals more power but may also require more octane.
Would I still be able to get a solid cam that isn't this high in rpms ? because that was one of the main things I didn't want to do away with
You can get small solid cams that will rpm very well and make power without going to 7500.
My goal was to be able to be around 4500-5k rpms in 4th gear by the time it would cross a 1/8 strip.
Now if I were to go 2x4 or tunnel ram would this be a different story or a different out come on the intended plans ?
Now we have a little something to go on being you said “1/8 mile” which is information no longer missing.
Why would you want to be at 4500 at the stripe in the 1/8 when you want to use a cam that doesn’t wake up until 4500? That makes no sense what so ever.

A tunnel ram is a winner all day long since it’s longer runners make more torque everywhere and the straight shot to the cylinder heads will enable lots of rpm.

I always though u want high compression and a good flow to move it all ?
You want good flow on any compression engine. More air and fuel to fill the cylinders is more power no matter what the compression ratio is.

The use of a higher compression ratio is for larger cams & engines that lack a high cylinder pressure at low rpm’s where the cam is not efficient.