Start with bringing the compression up.Be it pistons or heads. If you don't, then, at least don't bother with a cam. The Dcr is down so far in the basement already as a stocker, any cam upgrade without an accompanying increase in compression, IMHO is a waste.The first time around the block you will be shopping for gears and and a TC. Am I being harsh? you bet; bintheredonethat,seen it done too often.
-I have seen good results with just; a 4bbl, headers, stock cam,stiffer valve springs,and a free-breathing exhaust.
-I have seen lousy results in putting on a 340 top end,340 cam, 340log manifolds and dual 2 inch exhaust.
-I have seen excellent results with a small TQ, a matching small-port intake(don't say they were never made cuz I have one) , TTIs and dual 3 inch exhaust,plus the valve spring upgrade, so the beast can actually rev some.
Hey, remember when they put the 440 goods on a 383, and called it a Magnum?
So, if you put the 340 goods on a 318, what would you call that? Oh wait, it's coming to me.......A recipe for disappointment. At least,until you bring the compression back.The compression loss will require at least 3 to 4 gear sizes to wake it up; going from 2.76s to 3.55 minimum, and about 2400 to 2800 stall versus a well used stocker at 1800 .
So to build on a budget, let's see; what's a gear change and a TC worth, compared to a nice set of zero-deck pistons and a pair of closed chamber heads?
I can almost guarantee you will never be sorry with bringing up the cylinder pressure.At least until you exceed the Dcr that your gas, altitude,and head material,will support. Those 4 are sorta married, when bang for the buck is paramount.