if you have a smooth grand to spend and a 318 2bbl that money is better spent on a 4bbl set up, EI and a cam.
is it going to be optimal with a clapped out slush box and some long legs out back, no.
but a torque converter, shift kit and gears is gonna set you back at least a grand and you'll still have a wheeze box 318 2bbl
are those worthwhile and important upgrades, yes. but this is kind of a forest for the trees here. immediate gratification is a 4bbl
however, if you don't have discs up front do that first.