[magicmerll]

Forged pistons are not necessary in this case. Nor is the cam. A cam will not help much with stock intake and heads.

Going 306 will cost extra $$$, and I've been told by the local machine shop that most of the time the 5.0 blocks are in good shape, and are not in need of any boring. In fact, they told me for street use, to use the stock pistons as well , as they are a quality piston and capable of handling a lot of power.

Do a nice, cheap, fresh rebuild of what you already have - rings, bearings, etc. ($300). This will give you the piece of mind that nothing is going to come apart without your permission.
Have a valve job performed on your original heads ($250). This will ensure they are flowing to the best of their potential.
If you already have headers, exhaust, etc., spend the rest of your dough on a GT-40 intake. Gears are nice, but will be more beneficial later, after you have completed the rest of the basics.

I read an article recently that talked about the stock cam being good for engines making up to 350 horsepower. Remember, the key to making power is to get as much fuel and air in, and as much exhaust out as you can. You have to have these things first.

In fact, most guys will tell you the following order is a good way to get started making some power from your Pony!

1- cat-back exhaust
2- h-pipe if you can get away it
3- headers
4- K&N or cold-air setup
5- Throttle body

Now you have - more air in, more air out. Next, get rid of the power-sucking factory parts and settings and plug in these parts-

-pulleys
-electric fan
-timing adjustments (careful! Too much timing very bad!)

Now you have - more air in and out, and no power-robbing factory parts and settings. Now you can start making serious power. But remember, you have to put that power to the ground. It's time for -

-better clutch
-better shifter
-traction-aid devices such as subframe connectors, control arms, etc.

Now more power -

-fuel pump
-intake manifold
-adjustable fuel pressure regulator
-mass air sensor
-injectors

Now you have - a lot more air in, a lot more air out, and a way to put the power to the ground. Your engine is also making power in a different (higher) RPM range, so now is a good time to consider that cam swap you wanted. Carefully read the descriptions of each cam, and decide which is best for your driving situation.

-camshaft and lifters
-performance rocker arms

Now you have - a lot more power, a lot more RPM. Time to match the rear-end gears to your engine's power band. You are now able to make power at high-rpm, so a 3.73 (manual), or 4.10 (automatic) will compliment the engines ability to rev, and still make everyday driving possible.

Finally, you have all the basic requirements of STARTING to build a fast car. This is where it gets expensive, and you have enough power to start breaking shtuff. Now it's time for the fun stuff-

-aluminum cylinder heads
-forged pistons
-balanced crank, rods, etc.
-nitrous, supercharger, etc.
-Tremec
-MORE TRACTION
-etc., etc., etc.

Good luck, you might need it!!! Hope this all helps...

-magicmerll