help my 96 go faster

[96GTfanatic]

I've been doing some research for 96 GT's. I currently have a 96 GT 5-speed stock. I believe they run about a 15.2 in the quarter mile. I would like to improve on this time, hopefully to under 14 some day. I plan on getting Flowmaster American thunder 2-chamber exhaust, headers (not sure what size yet),cold air intake and either an x or h-pipe.
Heres my question.
Would getting the K&N (aircharger i think its called?) cold air intake, not for street use, smog illegal be overkill? Also would an x-pipe or h-pipe be best (without cats)?
I am afraid if I open the exhaust up too much, I will gain some hp, but loose torque. I want my car to be fast off the line and not be tuned for high end speed. Any help would be greatly appreciated