I have a 318 also, early 80's model. I rebuilt the engine when I got it 2001-02, cost was $700-800 range just for parts, I did the labor myself, it did great until a couple years back. The cost to rebuild again was just as high as a replacement engine from Honda or Briggs, the Briggs is actually MFG by Mitsubishi and had better reviews than the Honda so I went with that. If you're needing a new engine I can tell you that no matter which way you go it wont be cheap, even an Onan short block was over $1200. If I had to do it all over again I probably would of went short block, those Onans are hard to beat and the Suunstrand transaxle is virtually bulletproof. Mowed about 3 acres this morning with it.
If you're around the east side of OKC I have the factory service and part manuals you can borrow.
If you're around the east side of OKC I have the factory service and part manuals you can borrow.