.040 over in 318

I would just need another torque converter
Actually you could theoretically use the same TC, just with a weighted flex-plate or weight welded on to the 318 one, in the correct place and amount.
As to the retro-fit roller lifters, if they dropped into a 318LA, they should drop into a 360LA just as well. but not onto the flat-tappet cam, obviously.

As to the tight quench;
This lets you run about a half a point more Compression without detonation, . More with alloy heads.
But what it really does is help emissions, increase fuel-economy, make throttle response snappy, and it makes a lil more power by decreasing the amount of fuel going out in the exhaust, unburned.
And because, getting a tight-Q almost always means to bring the pistons up to the deck, or a bit higher, that situation helps the headers work better during the overlap cycle, by keeping the path smoother and the negative pressure signal consistent as it travels across the piston and up into the plenum. Of course, with log exhaust manifolds, this counts for nothing.
A long time ago, I was running a Zero deck 360 , closed chamber heads, and .028 gaskets for a really nice tight-Q.
But the thin gaskets couldn't take 11.3Scr.
So I took the engine apart and had it decked again, this time to put the pistons up above the decks at ~.007. Then I installed .039 FelPros, leaving the Q sitting at .032. and I never lost another gasket. But, you know I lost a hint of cylinder-pressure, with the loss of 8/10ths of a cc, lol..