First of all,let me tell you that this is a great question for a thread. Your opinion is perfectly acceptable.
Having said that, I am building a 340 replica. However to put a 340 motor in this car would have cost alot more money. 360's are cheap and everywhere. A friend of mine built this long block for a customer,who never picked it up. I got a killer deal on it, his loss my gain. My Dart was originally a 318 car, so I have no problem with the way I'm building it. If it was an original 340 car, it would without a doubt have a 340 in it.
No sure if any of this makes sense, I guess it is was it is. 8)
Take care.