A '68 318 has
open chamber heads... little if any difference in volume,
(OK the actual numbers after checking CCs myself are 66 for the 318 and 70 for the 360 915s) they also have smaller valves,
1.50/1.78 vs 1.60/1.88, don't have hardened seats and have
much smaller ports....
For the idiots that keep saying port your 318 heads... just the intake ports alone are 31CCs smaller... That is 248CCs of material to cut out in the intake ports alone to come up even with uncut 360 heads. Now add replacing the seats, larger valves, deshrouding the valves in the chambers, and porting the exhaust etc. = A herd of morons that cock off instead of doing some actual research.
Soooo, your recommending porting out the intake ports to match a 360, replacing the seats, at which point it would make sense to put in new 1.88" valves and you might as well replace the guides, because they have 143,000 miles on them... With the price of porting, machine work, new seats, valves, guides, springs, retainers, locks etc. that recommendation is an excellent way to be in up to your eyeballs into some awesome open chamber '68 318 heads, and just think of how great it will be when they flow almost as good as a $100 pair of uncut 360 J heads.
No thanks. For that much money I would rather buy new aluminum Mopar heads.
Just the money you have suggested in porting would buy an expensive set of pistons so you could put the compression ratio wherever you wanted.
I have a pair of '68 318 heads and some 360 LA heads. If you care to make it interesting I can check the CCs in both and see if they will change your compression nearly a full point as you have claimed...