Weight reduction!!! Big difference. Pull off the steel bumpers, the axle damper thing, at 160k I'm sure your a/c doesnt work anymore, so rip that out and get an elimanator kit. Use synthetic oil and get a set of march pulleys (get the most aggressive ones, the 1000 kit, I run a massive stereo and with everything going, the charge and coolant are fine). Pull out some soundproofing.
Maybe I'm crazy, but my car gets better milage with 3.73's as mentioned above. I should have gone 4.11 or 4.30. Use redline in the tranny and the rear axle. Dont listen to people who tell you that redline makes no difference in the tranny, mine could barely shift (synchros all shot)...after a few days of running on redline, It shifts almost perfect with an occasional grind.
Exhaust, as the good people have said. The mac's 1 5/8 works great on stock motors and sounds killer. I run the msd but I doubt it makes any real difference on a relatively mild motor.
Move the battery to the trunk (big difference) and get some good tires.
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91 GT Carb conversion, holley 600 double pumper, edelbrock performer intake, FMS "C" drop springs, march 1000 underdrive pullies, crane 1.7 roller rockers, GT-40P headers, bassani x pipe, american thunder catback, FMS 4.56's, msd aL6, trunkmount battery, A/C eliminator kit, 3000 stall tci streetfighter, AOD with transgo kit, A+ servo, 300M hardened lockup shaft, kevlar bands and 28,000 gvw trans cooler, 3 core radiator, 300 lbs stripped with a full interior
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