Stick with the 262 - 268 cams, Performer (not RPM) intake, and put it back together.
Save your pennies for a set of pistons and heads.
That will get you by and give you a significant torque increase over that gutless 318.
Just for giggles, I dynoed my 72 Imperial with it's bone stock California spec 440. Popping off the factory air cleaner pushed me up to a whopping 199 rear wheel hp and 294 lb/ft.
It was rated at 225 hp and 345 lb/ft so I think it was doing pretty good.
Sliding in a cam perked it up but the timing gear let go before I got it back on the dyno.
