Nice topic. I am thinking about some of my Allpar 'buddies' who have a nice talent of being more than willing to spend
someone else's money.
You said it yourself, in original post, "not a drag car - by any means - - ". My first suggestion is to take some time (like a month - not a year) to weigh all your options (pros and cons). Since this is not a
numbers car, it does not need to be a T/A clone/tribute - unless done perfectly. And, that will not only cost a lot to do but, you still end up with a
G as fifth digit on your fender and dash plates. If and when you decide to sell the car, this will mean more than a little to prospective collectors. So, having said this, (if it was my car), I would either restore the body and interior to stock - - or - - turn it into an R/T. At the very least, all you would need would be some body emblems or the special side stripes.
As far as the engine, if car is to be improved but not 'cloned', use the 360 as it is cheaper to rebuild and provides more 'torque' than 340. You cannot tell one from the other just by lifting the hood. Any original 340 block, especially standard bore, is worth gold as a resto/numbers engine. I have sitting under my porch a 'one-owner' 1973 (standard) 360 block, crank and heads that are only worth $100. as cores. Same parts, as 340, can be worth upwards of $1500. - $2500. (especially if uncut steel crank). You can sell parts you don't need to acquire parts you do need. Do not even consider using six-pack setup OR anything bigger than OEM (340/360 HP) cam. Balancing everything inside the engine will unleash more power than you'd think. The Edelbrock (1406) intake has a dual patter top that accepts square-flange OR spread-bore carbs. However, that trade-off is that the ports are a compromise between the 318 and the 340/360. The T.Q. was best performing (factory 4Bbl) carb ever offered. I've had them all.
My own '73 Challenger is almost totally numbers-matching. The (340) engine was freshened once - only to install 10.5 pistons. Cam, heads, rods, intake and crank are all original. Even (T.Q. 6319) carb and distributor and module are original. One of the few changes are 2.76 gears to replace the (deteriorated from lack of use) 3.23's. The 'fun factor' has improved with gear change. Highway driving revs less and plenty of torque and acceleration - as needed. Mileage improved to an easy 22 (cdn) on highway. Oh, and that's with 87 octane.
As I suggested earlier, use your own judgement, but don't install or upgrade engine parts based on one person' idea. It used to be fun to drive these cars - 30 or more years ago, but now so much traffic, high fuel and insurance costs and expensive shop rates - especially machining.
Build the car the way
you want it, but first, weigh all your options.