Not trying to take over your post Skyman, but I also got about $400 to burn. I'm definately looking at some drag radials and some used rims, but I'm also thinking about some MAC long tube headers.
Well, I guess answers your post will help give me a bit of an idea of what I want to use this money for.
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'79 Mustang Coup
4" Cowl
Weld wheels (15x6;15x8)
Stock 5.8L
C4 w/ shift kit
1.5" MAC full length headers
Holley 750 CFM
Edelbrock intake
2.5" Off road H-pipe, 2-chamber Flowmasters
8.8" Rear end w/ 3.55 gears (Now that's more like it!!)

Front: 225/60/15 Rear: 255/60/15 Eagle GT II
14 x 4” K&N air filter (getting the Xtreme setup soon)
"Red, thou art my companion. Hasten now your quickened metamorphosis to Green that I may conquer all who dare abide there beside me. May they be left thither behind burnt black." ---Fox Body