I'm new here and I hope I can solve all my issues with this older 250 Ram...(a new acquisition)
It has 27k+ miles...I'm sure its 127k or even 227k.
318, Two-BBL Holley...? 3-Speed automatic.
My plans are to eventually bring this truck around towards a road-worthy restore.
Being on fixed income, it will cover alot of my time, with little fixes that I can afford each month...
Whether or not I'm able to perform the repairs or have it subbed-out.

1977 was the last time I did an overhaul on an engine.
I'm familiar w/the basics...but again, its been so long.

I would like to take this engine and bring it back to basics.
No creature comforts at all...its a farm truck and I want it to remain so.

I can't get over how small the carb is...???
Isn't that small an intake starving the motor for air?

Welcome to the forum. I guess the main issue is whether the truck is worth saving. How's the body and especially the frame?
You can buy crate motors these days for about what it costs to get one rebuilt. Or just get a salvage yard motor/tranny.
I personally would go for a 360 over rebuilding the 318. They run better and get at least as good mileage. Since theres no electronics, you should be able to do most of the work yourself.

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'96 Ram Cummins, turned up and smokin'. 4X4, auto, Transgo shift kit, Lock-Rite, 4" downpipe to 5" stacks, homemade #100 plate, governor springs shimmed, homemade flatbed, Isspro gauges, bhaf.
'81 D150, 225 4spd O/D Just for fun. Soon to be 4BTA Cummins.

The cam in the 318 only has three hundred some odd lift,and tiny ports in the heads. I can't stick my index finger past the pushrod pinch area in the
intake port. The whole intake tract and cam size is the biggest bottleneck to making HP on a 318.
But, HP is torque times RPM. A work truck won't see RPM's, so airflow isn't as much of an issue. More compression will help the low end torque. Yours is likely 8.2 or so. Shoot for 9.0/9.2 Any more and fuel quality may be an issue. Keep the cam small,.420' lift,not over 218 degrees at .050' A stock '70 318 was rated at 230 horse. I'd pattern a rebuild along the '70'slines. The 2bbl will be fine up toabout 4000 rpm, power will fall off above that.
The short stroke 318 won't be a torque monster,but should make a sweet running engine.

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Things I gotta research someday:
"Shines like a diamond in a goat's ass."
Soon as I can catch a goat I gotta see
just how shiny that is.

The Frame is in excellent shape. Confirmed when I put tires on it last week.
The Front end needs new bushings..which sorta tells me that this truck could have 227k on it.
Its a flatbed with a stripped cab having no creative comforts other than a good bench seat that fits my bad back & hips just fine. No falling into or pulling myself out of....Just open the door & sorta slide into the seat. I'm 6'2"...200#

I've heard good & creepy stories about crate motors as it would solve a world of issues by doing a total swap out. I know this is a vague question, but could I trust a rebuilt from Auto Zone or the like? Any favorites here?

I'm 47 and I'd like this to be the last vehicle that I buy. It will serve to run the household..trips to town, short errands...etc. Nothing serious on a daily basis. I'm regarding it as retired out to stud...like its owner.

LugNuts-Thanks for those figures. I've got 'em down on my 'Check List'.
If my guess is correct on 227K...then it would denote a testimony to the design of this 318.
My focus is longevity but anything is worth mention here that can improve the 318 short-comings.
I'm welcome to all avenues and I'm grateful for the inputs here.
Thanks for your attention-ED in Millport.