The only way that I know of to reduce weight other than the obvious (remove spare ,tire back seat, ect) is to get a tubular K-member, A arms, and coil overs, which will shave about 100lbs off, but it will cost about 1k. I would look at super chargers, I have been look at them for mine, and have found that the Kenne Bell, 6psi set up is nice. It will bolt right on with no modifications, go right where your GT40 upper goes, put on a longer belt and your done. It is worth about 115 HP and 120 Torque. Go to
www.kennebell.net . Then find a place to get a custom chip burnt and you won't have a problem with ricers anymore.