Small block, this is a good thread so far. It's just a shame I missed Eat-My-Dust-ers next question. It's a good one. He hasn't posted since. Probably still driving the car like nuts enjoying the perma smile.
IIRC, the 906 heads are a closed chamber design and again, IIRC, they have an edge in flow in there as cast form.
Low compresion engines came out in '72 - '73. The '78 model year is likely to have the piston down in the hole about .100 - .130 area. (Can you say ECHO - ECHO - echo - echo )
Even a heavy shaving of the heads wont bring it up that well and if you did go that far as to get it up high, the intake may have to be worked on as well as to get it to fit properly.
The 440 as is, will move the car decently, for whats powering it. You'll have lots of torque and moderate HP. Giving the engine headers, cam, and a decent ignition will make it fun. The OE iron intake can stay for now. You can allways change it later or in a group shot along with the cam.
The OE T-Q ... is this a truck motor? Depending on engine application, or model number of the carb, will tell you if it is OK to use or if another carb is recomended. Smog T-Q's aren't to great to fuss with.
Truck T-Q's are not smoggers because they were exempt from car standards.