Loc-up
It's the same trans with the same features and a little looser TC for the wagon. And the loc-up will drop your Rs a couple to a few hundred on the hiway. Otherwise below about 50 mph you'll never know it's there.
Plus....... the gearing is 2.74-1.54-1.00 versus the 904s 2.45-1.45-1.00. That's 11.8% more advantage to the loc-up, on the start line.....which is the difference between 3.23s and 3.55s. The 1-2 splits are only 3% different, and the 2-3s are only about 4% different. All in all, IMO, the loc-up for you is a good deal.
And best of all, you already own it.
If you're mildly built 318 includes a cam, but does not include more compression, then you will need that 11.8% advantage, just to break even in low-end TM.