Would you recommend a jet swap to switch this carb from a 360 to a 318? I'm presuming it has to go a little leaner to avoid bogging and for better fuel economy.

Try it with original jets. Usually jetting has to do with altitude and cam specs. You can take a carb off a slant and put it on a 440 and itll run. 360 draws more air hence more fuel through the same jetting as a 318 so it may be correct as is. Many "universal" performance carbs work very well off the shelf on a wide range of motors. from 302s to 460s . I would go with a Carter 500 if you can find one or a Holley 450. Boats like torque and smallish carbs are great for that.