Hypers because they'll more than do the job (which in this case is to build compression and give a valve relief) and because he's already said he's replacing it down the road. For some guys $200 is enough to make it too expensive and in this case, cheaper's more than fine.
Looks like time to clean and detail the engine and compartment. By the way, have you also ordered new carb and kick down linkages as the 318 parts will no longer work. Just FYI. Does the cruise control work ?
How about adding a windage tray? This will help keep the oil from sloshing around and is supposed to add some HP. Mopar Performance makes a kit that fits the 318, 340 & 360. (I happen to have a spare.)