I have run low 15's on a worn out almost completely stock 318 with 2.94 gears and I was maybe pushing 240 hp?? It is possible to make some power out of the teen and go fast.
If you really want a 360 instead, go for it. It will just make us fast 318 guys that much more rare ;)
My 318 was most definately worn out, and the crank was shot, but now it is torn down in my garage, with a small list of decent parts including stock forged 273 crank, 302 heads, and xe268. I have the base now I just have to wait for some cash flow for the machine work and all the other little goodies that make it work.
Good luck on your project though.
