Suspension is a good way to go because these cars definately need better traction. South Side lift bars make a great improvement over stock. Sub frame connectors are a must have item too. Go with some full length subs with the crossmember under the seats.
You could also go with some underdrive pullies, but I'd recommend beefing up the charging and cooling systems before you go that route. Others may say that you'll be fine with the stock radiator and alternator, but it's not going to hurt to upgrade your radiator with a cheap 3 core from Pep Boys or Auto Zone and getting the 3G alternator from Auto Zone is only about $90 if you go with the rebuilt alternator. Just a thought.
Your 70mm TB is probably a bit too big for your current setup and may be hurting you more than it is helping. You'd probably notice a difference in low end torque stepping down to a 65mm.
A good tuneup is always good to have too. Get some Autolight #25 plugs, K&N air filter, some good plug wires, fuel filter, switch to synthetic oil, and advance timing to 14 degrees or so. It'll wake the car up.
Good luck.
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