The 71-74 blocks had the same casting number (3418496) and are rumored to be safer to bored out more than the later blocks. I can't confirm it, though. But, to answer your Dad's neighbor, this block should be the same one he feels is the best. And not sure they used the 340 mold, ever, since the crank journal sized changed.
In theory, the rumored greater cylinder wall thickness of the first generation blocks would make for a better foundation, but I've never seen anyone complain about the later blocks.
Really only 3 different LA 360 blocks I can think of, early (71-74) with a thicker cylinder wall, later with a thinner cylinder wall and ones with provisions for roller cam followers (and thinner cylinder walls). So "best" almost seems like a personal opinion rather than a flaw in some blocks (unless you count the lack of provisions for the roller cam followers a flaw).