Paul,
Let me first welcome you to the board. I know that you will find this to be best run, most informative board on the web...believe me, I've tried them all.
Anyhow, as far as your mods go:
You're on the right track. Remember that the 302 is in the most basic terms a big air pump. The easier air gets in and out, the more power the motor will make (assuming their is enough fuel and spark...and that shouldn't be a problem until about 350+ hp).
Exhaust:
A free flowing exhaust kit will improve performance and give you a great deal of enjoyment. Check out Flowmasters or Dynomax for a high quality cat-back system (~$170).
If you're needing to stay SMOG legal, you've gotta keep the cats on the H-pipe. However, look into a high-performance H-pipe with cats for some extra performance (~$200).
Headers are up to you...with stock heads, headers aren't so much of a big deal, but you might want to go ahead and invest in a pair of 1 5/8 shortie headers (BBK~$160).
Intake:
You've gotta let air in the engine as well, so up top, go with a 65mm TB and EGR spacer kit (MAC~$180).
Your stock intake will be fine until you dig into the engine a little more.
Drivetrain:
You've GOT to get a set of gears in that thing. Look into 3.55's or 3.73's. It's without a doubt one of the best "seat-of-the-pants" mods you can do (FMS gears + install=$300-$400).
Also, check into an aftermarket shifter for nice crisp and firm shifts. Pro 5.0 makes a nice shifter (~$150).
That just some basics....keep your eye on the boards for a lot of good tech information, and if you have a question, just ask.
--nathan
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--silver_pilate
'91 GT, Built 306, Wolverine 1087 cam, ported Windsor Jr. Irons, and all the goodies...click the link to the left to see a full list of my mods...
Tried and True 302 Being Built to Outrun You! heh heh heh...
--Texas Panhandle--
Check out my site