Moper is right on, you should decide what you want to do with the car and what's going to make you happy before you start rebuilding or buy something else.
I'm in the middle of a 340 rebuild myself. I'm looking for a slightly more aggressive street build, hopefully in the 400-450 hp range. My 340 is .060 over, with KB 243 pistons, a Lunati 60404 cam (duration 276/ 284, Lift .513/ .533), with stock rods (re-indexed and cleared for ARP bolts) and stock forged crank, with the rotating assembly balanced. Its going to have a set of 308 heads on it, with stage 2 porting, 1 3/4 Hooker super comp headers, edelbrock air gap intake, and probably a 770 cfm street avenger unless it proves to be too much. I also have a set of Harland Sharp rockers, high volume oil and water pump, and a Kevko oil pan for it. So far I'm at about $5,000
, and I don't have the valve springs/retainers, push rods, or head gaskets yet. And of course since I haven't put it together yet I'm sure I'll find some more things I need to buy still.
I suspect that all said and done I'll have around $6k in the engine and accessories
. I believe my initial "budget" for all this was around $5k, although if I check my posts I may find it was a little lower initially. But I also upped my expectations for the build as I went along.
This is keeping in mind also that I bought the complete 340 short block core for $280, the Hooker super comps slightly used for $200 (vs $690), the intake slightly used for $200 (vs $260), the carb mounted only once and ran on a dyno only for $150 (vs $400) and the
new Harlands
for $350 (vs $590). That's over $1k less than retail for that stuff.
So I guess what I'm saying is a "flexible" budget gets big fast, and depending on what you want to do the price will vary greatly. I think a complete stock rebuild will cost around $3,500 if you do it right, and probably grab you between 300-350 hp depending on how you set up compression/cam/etc. With the port work I'll have about $1500 into my heads alone (including purchase price), with a few hundred more in parts to go before I'm finished, but realistically you'll probably need head work or aftermarket heads if you want to run over 400 hp.
Here's a bunch of 360 builds with dyno #'s, it helped me make some decisions on my direction as far as my build and some of my parts.
http://www.mopar1.us/dyno.htmlAnd of course, keep in mind that no matter what you decide to do you'll probably end up spending more...