[USMC302]

You mentioned the exhaust isn't restricted, meaning it doesn't have cats? If not, that's a start. Gears will help with the RPM rise. The 94 auto's are heavy cars, the auto alone takes away around 7%-15% of hp through the drivetrain. You might try advancing the timing until it starts to ping, then bring it down a couple degrees, you can run higher timing with higher octane, but it's gonna cost you with gas prices these days. Do a tune up, an aftermarket air filter will allow better flow and fresh plugs and such will help as well. Have a shop do a leak down test, check the compression to make sure you're getting everything you should out of the 8 cylinders that are firing, then we can go from there. Good luck.