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5.0L (1979-1995) MustangTechnical discussions on 5.0 Liter Mustangs within. This does not include the 5.0 from the 2011 Mustang GT. That information is in the 2005-1011 section.
New suspension (lowering springs, shocks, anti-roll bars), wheels, high performance tires, cross-drilled vented rotors with new calipers and racing pads, full exhaust.
Get a ATI Procharger and a better fuel system. They're intercooled, wont effect drivability and you'll be fast as hell with about 12psi of boost, thats into the 400horse range and with a P1SC, easily more room to grow if you ever build another engine and want some real boost. The kit is about $3,500 but you get out of it every penny you spent.
bone stock 91 gt (190hp at the wheels) with a hellion turbo kit made 392.4 rwhp and 487.1 lb-ft. they did it here., thats how i would spend my money. you will still get the same gas milage you are getting now, it will make for a hell of a sleeper.