The heads may fit. But no way are they even close to a later 383/440 head in flow. Like I said if you own an existing good motor or it's a numbers match that is desired. Then it makes sense. Anything else why would you not start with a later 383 or 400? More power potential due to the larger bore and valves. After you figure in machine work and parts, a core engine doesn't add much to the cost. Tell everyone it's a 361. Unless performance isn't important. Which is fine as well Does anyone here have a currently owned 361 that can show a 14 second time slip? It's like doing a Poly 318. Like banging your head against the wall. At least the Poly looks different so there is something there.Pistons are available easily from several sources. Heads are the same as a 383. Definitely not "scrap metal". Everything that fits a 383 will fit in a 361. (Except pistons, obviously). A 361 is a 383 with 22 few cubic inches, is the only difference, overall. My '66 Coronet 500 has its original 361, rebuilt in 1984, and I'll put it up against any street-build 383 out there. I've added 1969 440 exhaust manifolds, an MP aluminum intake, Carter AVS carb, Direct Connection cam, and a shift kit. It sure acts, feels and performs like a 383 that's built identically. Why would I change to a 383??? I rather doubt you've ever owned or driven a car with a 361 to know.
Doug