I would think this would be serious overkill for the street, but it'd sure as heck be fun
For heads I'd personally go with Canfields or Edelbrock Victor Jr's, maybe with a mild port job to clean them up. Intake, TFS makes a nice 351 EFI setup that should work. As for a cam, contact someone like Anderson Ford, they do good research in cams (especially blower cams). Long tube headers (like 1 3/4") along with 3" exhaust, and a big fuel system would probably also be involved.
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1991 LX Hatch 5.0L