Sure, been down this road before a few times. For a moderate gain with those headers and gear ratio dependent this is what I would do myself, because I have done this with decent results. Remember, your biggest issue is compresion ratio or actually, the lack thereoff. So if you want to mill your heads for a 9.0-1 or better ratio, you will need shorter pushrods and the same OE thin head gaskets again.
If you use a thicker aftermarket gasket, you'll need to mill the head an additinal amount, and that would be the difference between gaskets.
(OE approx .020 and Fel-Pro's for example are generally around .039. That's about an added .020 milling. )
And yes, I know the factory rated the 318's with a 9.0-1 ratio, but have you takenb one apart recently? LOL at the factory specs. My '79 - 318 for example is rated @ 8.5-1 and speced out at 7.8-1. :rolling:
3.23 ratio and numericaly lower........
A Performer intake would be best. Allthough the older Edelbrock intake known as the LD4B is not bad at all and can be used. The stock 4bbl. has large ports and I would use it only if that was all that was available. OR, if you port match the 318 heads to it.
Cam wise, I'd look to a intake duration of no larger than 218 @ .050 and use a cam with more exhaust duration.
Crane has a split advertised @ 272-284 on a 112 C line. (216 - 228 @ .050 ) Mello idle.
Comp has the XE262H on a 110 C line. A little chop to it. Nice cam. equal(ish) to the Crane, slightly better top end pop.
Huges and Lunati also have similar grinds.
Future head mods? Just go with a pocket porting and a back cut stock intake valve and the larger 1.6 exhaust valve. This should net you an additinal 20+ or so HP.
More
3.55's and numericaly higher rear ratio's will feel great with more aggresive cams specs and and more head work. Jump to the 1.88 intake valve and port accordingly. Best bet is a more extensively ported 318 head. The 360 head is a bit big for the teen still, but will do OK. Port match the 318 head to a RPM (or equal) intake. Though, the Performer is still OK at this point.
If you use a 360 head, do not port it and keep the stock valve in there, just back cut the valves.
Cam wise, choose it based on your driving RPM range. For a street ride that is still easy to deal with, even for grand ma. (The ones that like some power that is, like my Mom.) Look at intake durations starting with 224 up to 230 degrees @ .050 and keep on with the split duration. You only need about 6* seperation at this point.
With the 230 @ .050 cam, the engine can make an easy 370 HP with the above suggestions. And not for much more cash than the less powerful build.