After GM made their big deal of having everything built after April 15, 1971 being able to use unleaded fuel exclusively, Chrysler followed by stating that their 1972 model year cars COULD operate on 87 pump octane fuel (low lead or no-lead), BUT with no-lead fuel, they recommended that each third tank of fuel be low-lead or "normal" lead fuel. Then, in 1973, they went to the induction-hardened valve seats for full unleaded fuel compatibility.
Electronic ignition was originally for just the HP 4bbl motors, but was later optional in 1972 on all engines. Our '72 Newport 400 2bbl had it as an optional item, as it was a later in the year production date.
I also found a Chilton magazine in 1973, which had a proving ground report on a '72 Chrysler wagon, 440, HD trailer package, with a max-weight-rating trailer hooked to it. They ran it around the proving grounds until it would not run any more. After about 12K miles of that HD use (high speed, heavy load), the majority of the exhaust seats in the head had eroded such that the heads had to be replaced. The heads did not have induction-hardened exhaust valve seats and the fuel was no-lead fuel.
The basic depth of the induction hardening was basically on the surface metal, which would probably be ground away on the first valve job? Or at least the heat-discoloration of the metal.
In the case of the '72 318, as long as it's got good compression, it'll probably be fine for a good while longer. The valve seat erosion does not happen quickly, but over time. The first thing to happen might be oil consumption from worn valve guides, which can then lead to a burnt valve on that particular cylinder. THEN, you'll have the option of pulling both heads and getting hard seats installed, if and when that might happen.
For general principles, you might start a "valve job" savings fund to cover that when it might happen. Hopefully, it'll have grown a huge amount before it's needed.
Drive it and enjoy!
CBODY67