Too slow need help on 2.3

[FiveORookie]

Hey guys what's going on I just sold me 87 lx 5.0 and bought a beater of mustang. Its an auto 2.3 lx. The thing has problems getting out of its own way. Have a couple of quesitions

1) what is the horsepower, torque, 1/4 mile et and mpg of this little POS

2) Do all the cheap mods also apply to the 2.3 as the 5.0.... (eg timing, cooler thermostat, gutting the cat,)

3) Does anyone know how much nitrous this little beater can take???

I bought it to waste less gas than my 5.0 but damn I have had 5 other 4 bangers that ran a hell of a lot better than this. Pleaseeeeeeeeeeeeeeeee help.