Two approaches, both very economical-
First the basic hot-rod approach:
Car is a 1968 Coronet, 904 auto, 2.76 hwy gears.
Engine: 180,000 mile stock 318.
Recipe:
Basically left the short-block and heads alone. Went with an eddy 600, wieand dual plane intake, Summit "small" cam (204/212 @ .050, .420/.444 lift, 112 LSA). El cheepo Hedman headers with 1 5/8th diameter. Electronic ignition conversion, 16 deg initial, 38 total @ 2500rpm. Everything else, valvesprings included, were left alone.
Results? 15.2 @ 92mph in the 1/4, shocking considering the mild nature of the engine, total mileage, hwy gears, and size of the car. A side benefit is that it averages low 20's on long trips provided I keep the speeds below 70mph.
A little more involved, but basic and economical approach nonetheless-
Car: 1976 Plymouth Valiant, bone-stock 318, 4 speed O/D trans, 2.94 gears. Took off tailpipe and dumped the exhaust before the wheel, no muffler. 1/4 time in this state was 16.7 @ 79mph.
Recipe:
Basic 360 short-block. 0.060 overbore. Stock replacement cast pistons, pre-fitted cast-iron rings. 8.2:1 CR. Basic bearins and balance at the machine shop. Stock rods/bolts.
Heads were basic, non-smog 1976 heads. Basic three-angle valve job with stock 1.88 intake valves by a good shop.
Cam was MP "268/272" cam, basically 228/232 @ .050 (although it didn't act like it was that big, seemed like a typical "218 @ .050 cam), .450/.455 lift, 110 LSA.
Eddy Performer intake.
Holley 600cfm single feed carb.
Hedman headers.
MP electronic ignition, 18 degrees initial, 42 total (high, I know...but that's where it ran best), all in by 2400rpm.
Engine had great torque and idle characteristics. Did great paired with the 2.94 and wide gear spacing of the 4 speed OD trans. Ran a best of 14.2 @ 94 mph (understand that the STEEP drop off into third depressed trap speeds). If driven very conservatively @ 55-60mph, would average over 25mpg with the extremely tall final gear ratio of 2.14:1
Swapped to 3.90's and got it down to 13.7's. Enough low end to get sub 2.0 60ft times.
Later version of the 360, same car:
360/stock resized rods/ARP bolts/KB107 pistons ~ 10.5:1 w/ milled heads.
Heads extensively ported professionally to bring intake flow up to 260cfm, exhaust lagged at 175 cfm (only a 5-10cfm improvement...too aggressive on the short side), milled 0.060 to get combustion chambers to ~60cc each.
Hughes 232/238 @ .050, .520/.544 lift, 110 LSA cam paired with Rhoads lifters (got 13 inches of vacuum).
Eddy performer "rpm" intake.
Holley 750 DP.
Good ol' Hedman Headers, 1 5/8th (although I'd have like 1 3/4 or stepped headers).
MP electronic ignition w/ chrome box. 12 degrees initial, 36 total, all in by 2400 rpm.
In the valiant w/ 3.90's still, but now with a non-OD 4 speed manual trans. Best ET 12.6 @ 106mph. Fuel mileage: Horrid. Driveability, not bad, good vacuum and wide power band, pulled strong to 6500rpm.