Semantics first: When you say “final drive”, I assume you’re talking about overall first gear ratio, and the 2.08:1 quoted would refer to OTGR. “Final drive” generally refers to, in our Mopars, the ring and pinion gearset ratio.
Will a 318 2-BBl pull such a tall OTGR? Sure. At highway speeds, you’d probably be close to the engine’s peak-torque RPM (1600) so fuel economy would be excellent.
Still, this will be far from a hot rod. You want more, no doubt. There are almost infinite ways to approach this. You could swap in a torquier 318 (think: ’92-01 318 Magnum SMPI), “stroke it” by swapping a 360 (or even a true stroker, typically 408 CID).
You could also work on the transmission first. The stock OD A833, as you noted, has very wide ratio spreads. This is actually well suited to a stock 2-Bbl engine, but if you “power up”, the huge RPM drops at every shift become very aggravating.
What I did for decades was to use a 3.09:1 low gear 64-66 tranny gearset (non overdrive), coupled with a 2.94 or 3.23 axle. This is a reasonable compromise, but still not ideal (too much highway RPM and too much RPM drop on the 1-2 shift).
Beyond that, the aftermarket stands ready. You could go for Passon’s 4-speed OD (2.66 low, 0.80 OD), his 5 -speed (2.64 / 0.70, and it bolts in), on a Tremec 5-speed (several gearsets available) from American Powertrain or Silver Sport).