The 318, with a couple very rare exceptions, was always a cast-crank engine. There is nothing wrong with that. The cast-iron crankshaft is very durable, and capable of putting up with some pretty serious abuse (not a Chevy, remember?). As for the trasnmission, my first impulse would be to say no, it is not a lockup unit. The easiest way to tell, without separating the engine from the transmission, is to look at the front side of the torque convertor, and see if it has a significantly sized, flat area to it. This is the outside world look of the convertor clutch apply area. If it just looks basically round (like a donut), you have a standard transmission- no lockup. Removing the inspection cover on the bellhousing is the only way to really see this on the assembled engine/trans.