One ov the cheapest, bestest-ever things you can buy for your rod is a die-grinder. Learn to port heads. Hell, learn to port. Lots ov info here on how to do it right. From messin' with deflashing to full-out head porting, polishing chambers, porting manifolds, port-matching, porting exhaust manifolds (tho' i strongly recommend headers), lightening up a block, stress-relieving, polishing rods, etc. SOOOO many things you can do to make that thing faster with a die-grinder.

I'm a firm believer in weight reduction. It helps everything, generally makes the car more efficient as well, handling, braking, etc.

Mandrel bent exhaust is easy to build and cheap if you know where to find cheap pipe. Swap meets have cheap dented up Flowmasters or better. Headers aren't hard to find used, or can be cheap new (i dont mean cheap crap, avoid that stuff). There is absolutely NO reason why you can replicate that fancy $500 aftermarket system for far less yourself if you can weld. Hell, i've got a veritable pile ov used diesel truck exhausts ready to cut up for my 3" mandrel X-pipe Newport exhaust. The whole deal will be around $100 done, manifolds back. Or $100 from headers to tips if i can make those Hedman shorties fit (they were free...Hah!). Exhaust is a good thing in SOOOOOOOOO many ways.

Used tires. Ask twenty people who know tires and cars what the biggest tire possible is you can fit on your buggy and then go two sizes wider. Buy cheap, used Mustang 17 or 18" rims and some spacers so you can find used 275's, 285's and 295's, even 315's without spending a lot. Used drag radials are easier to find in 17" sizes and the normal Z-rated tires are stickier than your 295/50/15's guaranteed. Not to mention that 17" tires will instantly make your car handle like its 20 years newer without changing anything else. For pure drag racing i see cheap used slicks everywhere.

Learn to tune, like really tune. Tuning can be as cheap as the price ov gas. Its amazing how many hot rodders are ripping around with the wrong jets in the carb or the wrong curve in the distributor.

If you've got something actually worth money, that you can live without (say those year-correct 15x7 rally's that your car DIDN'T come with), sell it and buy some used aluminum heads from Moparts ads or E-bay. Probably the best speed deal out there... used aluminum heads. They pop up infrequently. Sell something you can get back later.

Dont be afraid (or peer-pressured) into sticking with Mopar stuff when other parts are handy and cheaper. Gotta toss that 7 1/4"" rear? Put an 8.8 Mustang diff in there, its already got a posi and rear discs, and cheeeaaap. How about some neat import bucket seats? They look better, recline and weigh a lot less than Mopar stuff. SBC water pumps (??? i heard that somewhere, lots ov aftermarket ???). So many options...

Want some REEAALLLY cheap speed? It'll cost you a bunch ov mickey-mouse fabrication and a lot ov reading and internet searches, but how about a junkyard turbo set-up? They're getting easier to find out there now that cars are bigger and faster than they were for years, lots ov turbos out there. People have rigged systems up for peanuts making stupid power.

I am the warrior ov the wasteland and the emperor ov cheap. I could go on forever...