As far as what I would do....
Suspension wise:
I alway start with the suspension
DO you like firm or semi firm..I like firm do I went with 1.5 drop linear rate S/T spring. The vogtlands are nice if you like less of a drop and a slightly less aggressive feel (less firm)..There are many choices out there however those are my two.
Shocks...Konis are nice but after buying them fo r my stang I cant see to part with a bunch more $$$$$ on ones for my Tbird. I bought some Shocks and struts from a place on EBay. S/T is the manufacturer.
Make sure your motor mounts, an dall bushings in your car are in ecellant shape..If not change them. Stay away from Poly except for the sway bars and perhaps motor mounts and tranny mount. As I mentioned Doug F on this board makes delrin bushings for our rear suspension...That would be my #1 choice..Best mod to date(or close to it)
I like the hub swap because it makes your brake and wheel system mustang freindly. Replacement parts be them rims or brake componants become easy. Definitely if you go thsi route go with the cobra front and rotors, cobra front calipers with sc modified calipers and brackets. I run 99 cobra rims and brakes on one of my SC's and 98 cobra rims and brakes on the other..Love it
Motor wise a set of ported stock valve heads and a nice 520 or so lift cam...Late model S ported blower, MP inlet and 85mm TB..3.5 inch intake tube and I like the lightning 90m MAF allthough that is alway sup for debate,,,
upgraded IC is a good idea..And do the raised top if you feel inclined
42lb injectors, 255lph pump..If done right this wont cost you all that much and net you over 300rwhp.
If you really want to spend the $$$$$ then the whole above combination will go into buckwild mode and cost allot more.