I appreciate everyone’s input on this. I got a free 70-71 4bbl intake and a Holley 650 today that needs rebuilding, and a set of hp manifolds on the shelf here like I said, so for now I might clean it up and let it ride like that. 516 heads will stay, and I may pull them if I have to and have some hardened seats put in and a pressure test done, put a thin gasket back on, etc... the compression drop is just too severe going to an open chamber head that’s been cleaned and valved without decking the 361 and buying pistons. Clearly the cam is probably a waste of time given its stock driveline specs, but I did build a 65 383 in a polara and put the hp cam in and it did help it out a little, and with a 2.76 rear to boot... and I know the 361 isn’t immensely popular but I’m not racing the car either so it is what it is.
In terms of the 440, all of the parts were previously purchased and it’s just hanging out at the machine shop waiting to be put together. It’s a total mush of parts, late 70’s truck block, late 60’s 906 heads (or maybe the 452s?) cast crank, 6 pack rods, 510 cam, older torker intake and a free rebuilt Holley 750 that needed a new front bowl... you get the idea. Fortunately the shop is owned by a family member, so I’m not digging money holes with it and it will be balanced accordingly, crank polished and new everything.
To the “back when” stuff - I’m 32 so as much as I’d like to remember how it used to be, I can’t lol.
Fir the 440 lovers - I work fast so once this car is done, and I change my mind, it’s a simple weekend swapping that 361 out
... there’s a 4.88 Dana 60 for sale locally after all, and a great 727 builder in town.