Hi all. Yes another newbie here.  Just bought my first future hot rod.  75 Scamp, 318 Auto with P/S, all original. In need of some advice and wisdom.

I have poked around some and found some very useful info, however, not knowing these cars very well, before I dive into this project, I want to have a plan and I want it to work.

The goal is to have a mid 12 sec. car that is somewhat streetable.

So far I plan on swapping the 318 for a 360, or build a 408 (360 stroker). Rebuild and beef up the auto, ditch the 2.73 gears for 3.55/3.73??? Thinking hard about the Edelbrock Fuel Injection (this newbie is from the new age- Carbs scare me!) And all the other basic speed goodies- elec. *** and fan, alum. radiator.......

What is the deal with the 340?  Other than harder to find, is there any benefit to this motor?

Will mounting the 360 give me any real grief?

Should I ditch the sloppy, way to sensitive P/S in effort to remove engine drag and free up space?  Any little tidbits would be great.  

Sorry to start out with such a long post, I promise- no more. Hopefully I will be able to offer help to others with some of the areas I am more proficient at.  

Thanks again, to all.  

Scamper, Welcome to the site. To answer your questions;

Mid 12's should be easy.

Depending on what you want to spend, a 408 will definitely get you in the 12's, but if don't want to spend the extra cash for a stroker kit, I would rebuild a 360 with about 10.5:1 comression, a good set of aluminum heads and an intake, and a stout flat-tappet cam. You can get more in-depth with the build, but a not sure what you can--or want--to build.

340's are good engines, but harder to find than a 360.

Mounting a 360 where a 318 was is an easy swap.

Removing the power sterring is a personal choice, removing it will help give you a small gain in horsepower, but not sure if you'll like driving the car without it. Me personally, none of my cars have PS.