This was the middle of the road 396 during the muscle car years. The only other 2 396 engines were the 325 hp model, RPO code "L35" and the top dog 396 RPO code "L78".
The L34 engine used a hotter hydraulic camshaft than the L35 did. It also used a Quadrajet 4 bbl carbureator, and a set of oval port heads with 2.06/1.72 valves, casting code 3964290. The compression ratio was set at 10.25:1. The blocks were usually 2 bolt blocks (though some claim 4 bolts were avaliabe). It's also rumored some came with forged cranks while others say nodular.
The L78 396 however used a solid lifter camshaft and a pair of rectangular port heads, a 780 Holley carbureator, a 4 bolt main block with forged crank and an 11:1 compression ratio.