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Mopar Muscle did an article on a 318 build up that netted over 400 hp. It involved worked 360 heads and .030 pistons with enough of a dome to make some decent compression.
You are ahead of the game as far as having a forged crank in your block but lack a sufficently strong rod. The cast crank 318's got the 340/360 rod with a pressed pin. Rather than waste money on reuilding stock rods price out a set of replacment aftermarket pieces.
Since you say you are on a budget be warned that you'll be spending a minumum of $3,000.
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