Welcome to the world of MOPAR!
To the OP, as you can see, opinions like a$$holes every one has one, and I'll include myself in there. Little did you know what kind of s**t storm you would create when you asked the question: 318 or 340? In Chevy speak: what would rather have a 327 out of a Vette or out of a station wagon?
318, 340, 360 will all get the job done rather nicely, just a matter of affordability and availability. 318's (5.2's), 360's (5.9's) are common and affordable to the point of free if you look; 340's, not so much. The likely hood of finding an affordable 340 will more than likely be a result of luck than anything else. In your decision making process, the past commentary about bore size and main journal diameter is meaningless, it has no relevant anything to your stated goals for your car.
You made no mention of what your budget is. It is reasonable to think that what ever you find, it will need a rebuild. They will all cost about the same.
You stated the car is to be a cruser, I take that as you go out in the morning, hop into the car, start it up, back out of the driveway and down the street with no fuss, no muss, no bother. You appreciate thumbs up/smiles from passers-by. You go to a shine-n-show and people come by and say "nice car", if they ask if it's a 340 and it's not just tell them what it is, they just said it's a nice car.
In my opinion, 318 (5.2) or 360 (5.9) is the way to go, your stated goal of cruising and "sounds good" can be had from eather.
Good luck and have fun!