dont remember if they had hardend valve seats in 72 so if not you will need seats most likly
they would be an open chamberd head also,but will be fine to reuse...but IMO...
you should look for a new head like the 85 up closed chamber swirl port #302 heads
they will raise the compressin some and do fine for a stock 318,they have the hard seats for uleaded gas
very easy to run across used and still be in good shape on the guides,just mill the valves and seat after cleaning and run them
360 heads will lower the comp some but will give it a slight boost in HP and breather better on the top end with the larger valves and ports,some will disagree but I have run plenty this way and works fine for a mostly stock ride or truck,cant realy feel much diff over the teen heads exept that it winds up better and breathes more..so the add rpm speed and better flow does give a better performance over all on the street IMO
not the best combo but an slight improvement in performance
my 88 318 4-v roller cam came stock with 360 heads wth 188/160 valves
I just added a voodoo roller cam with .485/.485 lift,LD4B intake,600cfm carb,headers,3.23 gears
woke the teen right up and moves my 85 truck real nice in traffic
but thousands have just had a valve grind and slamed back together with fair results in the last 40 yrs to get even more miles than ya got now