Get real. You want to compare, then compare apples with apples. The 302 Ford was their economy engine. So compare it with a Mopar 318 or GM 305. In emissions guise these all had crappy cams and lower compression.
You want to compare your 340, do so with the competition performance engines. The 340 was a performance oriented engine. Not all the 350 competitors were performance oriented either. Ford and the General built many 350 cube engines with 2V carburetors. Compare with 4V 350 GM or the Ford 351W and 351C engines. AMC 304 was an economy engine while the 360 had more performance potential.
