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Yes the head from a 300 will fit a 240 but so not try to but on a head off of a 200 or 250 as i have heard that they dont fit
STeve
1970 f-100 Custom 302 2bbl 4 on the floor, my "economy" machine 1970 F-100 Sport Custom 390 2bbl 3 in the tree with factory overdrive.
1978 F-150 Custom turned into a dune buggy 300-I6 4 speed
Im a typical teen, i just have to change it!
A later model head (EFI) will give you more compression than a bathtub 300 head, but neither will give as much as the regular 240 head (unless you mill the heck out of them). If you're going to stay with the 240, you might as well keep the 240 head because it flows just as well as the 300 heads, and out of them all the 240 head has the tightest heart-shaped (quench style) head.