LS1 Or The Pony v8
 

So I bought my first mustang. Its a 1997 Ford Mustang Gt convertible. I started getting into racing my buddies and lots of them got camaros with LS1's. I am completely stock but cold air intake. Got a ticket for doing 101 mph on freeway so cant spend any money right now on car. Are the LS1's quicker? Is it possible I can make the Pony faster?