If your not going to rev the engine you are throwing away power.
If the engine is built right and gear right, you might be surprised how well a high compression 340 motor can be. A 360 can be made with 10--10 1/2 compression also.
My 3.91 gear 340 car rarely goes WOT--there is no need to !
Ran out to a store this morning at 9am, temp was upper 30's, car sat all weekend in the garage. Fired it up and let it warm up 1 min, lots of water vapor, no blue smoke what so ever. 2 miles later I was on the expressway going 80 mph @ 4,250--4,500 rpm, engine was running great, only at the stop lights does it shake due to the cam.
Took the back roads on the way back--state boys on the other side of the expressway was doing a traffic stop and traffic was stop-back up for miles, ugh...I thought even if traffic thins out that trooper might still be around.
3.91 gears are perfect around town in 25 to 45 mph zones. 50--60% throttle in 1st or 2nd should pass 75% of the cars/trucks out on the roads, I had no problems staying ahead of traffic.
Drag racing is another story, I agree then stroker might be cool then but for my street ride no way. I beaten on my 340 for 2 summers now, got over 5,000 miles on it, red line is a "safe" 6,500. During the summer it sees 6,000 plus a few times each time it went out--some days muti times a day..sometimes in top gear--hard on the motor to push the car at high speeds. Uses just a quart of oil between oil changes each 3--4 months and the rear main has a little leak.
I never see any smoke expect water vapor from the exhaust. I'm sure that little 340 will last well over 50,000 miles.
I still don't see why not use a BBM if you want more CI ?