dollar for dollar, the 383 will easily out power it and out torque it, Also, look at mopar muscle a few years back, with there 340 , 383 build ups. The 383 killed it in power. Just from experiance, i had many 383s that i built and dynoed, my 383 in my challenger made 499.6 hp and 505 ftlb of torque, on pump gas. nothing exotic here, just a little portin and good intake and cam selection. when i had my T/A challenger, i built the 340 very similer to the 383, but with higher comp. 10.8to1 fully ported heads, and solid cam etc. and i beleive it made 455hp and 440 ftlb of torque, and it cost alot more to build the 340. 383s dont run hot, they get decent gas milage and u can rev the hell out of them . If u want to save alot of weight, get the aluminum water pump housing and water pump, and aluminum intake. u will be very close to the weight of the 340. GO 383!!!!!!!