What is the horse power benefits

Read an article about putting a 360 crank in a 318. Isn't that just a smaller bore 360? Wouldn't it be better to keep the cubic inch and work on upper end stuff and 10.5 or better pistons? Or turn the 360 into a 408. I am not upto date on strokers.
There's really no plus of a 318 with 360 crank over a 360. But built similar they will make similar power and torque since there now fairly close to the same size.