The GT-40x heads do flow better than the p heads, but you should be able to get some serious power out of the p's for less money. By serious power, I'm talking in the 320hp N/A area.
Screw the MAF conversion, unless you like losing 20hp.
Get a B cam, GT-40p heads, Explorer intake, and an adjustable fuel pressure regulator. A 65mm T/B would help a little, but it shouldn't be all that necessary. The P heads WILL require different headers, so if you can find the X heads cheap, they might be worth it. Regardless, you're gonna need a new fuel pump. Get rid of the 160* thermostat. The combo above should get you 320hp or so. Your car should be running mid 90's for trap as it is, so there may be underlying problems. If everything is tuned up with the new combo, I'd expect traps in the low 100's.
SD most certainly can handle cams, heads, and intakes. Regardless of the brainwashing most people have gotten. You simply have to adjust the fuel pressure, or get a custom chip at worst case scenerio.
I don't know what's up with your car to start with, but my SD car ran 14.19@103.8 on the Gtech, and it was out of tune bad.
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1987 GT 5spd.
D&D Performance "Z" spec T-5
Dynomax 2.5" Super Turbo system
BBK 2 1/2" H-pipe with cats
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