[SleeperGT]

First off congrats on a great purchase! You are in store for loads of fun! Based on what you want your end results to be for your first upgrades (power and sound) I would first go with a set of gears and new mufflers. You'll get a much more responsive, "powerful" car with the sound of power. These two items will cost you well south of $1000 including installation, where as a high quality exhaust system from manifold all the way back could cost you $600 - $1000, and you might only notice a very little bit on the top end, and might even hurt yourself on the low end. Gears will make a VERY noticable difference in performance at all rpm levels and mufflers make the gears even more fun because the car not only will be faster it will sound faster. And then later on you can continue to upgrade the exhaust system as you want.

There are a million posts out there concerning which gears and what mufflers, just do a search. Good luck!