The heads and intake will definitely help and your friend's LT1 will be about two to three cars behind you the next time around.
Do you use synthetics in your car? I bet if you added amsoil to your trans and rear and ran Valvoline durablend in the engine you'd have that guy beat already. Just a thought!
What kind of a H or X pipe are you running?
Kick some a$$
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formerly 96cobra89lx306
(96Cobra/softtop-3.73,almdrvsht,fancontrl,steeda sbfrmes+shifter,eibachspgs,KYB's,FR-upper arms,Saleen copy-polished 18's,pulleys,Bassani X pipe(gutted),C&L 80mm
Cobra DYNO 301rwhp horsepower before gutting the X pipe
93 Ford Probe Gt(slower but turns)