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What 87 said is true. However, I will add this. Gears are the most important bang for the buck, no doubt, but on the engine, the 351 windsor can be made to run strong. For starters, if your looking for cheap power, then first off, how many miles are on it? If it has over 50,000 miles on it the timing chain needs replaced. Sloppy, worn out timing chains cause it to severly lose power. Next the exhaust. The exhaust port on the heads are absolutely pathetic. The are really small, and with a severe kink. So for the next cheap mod getting a set of headers as well as dual exhaust with a set of mufflers of your choice will be a huge step in the right direction. Fill both the front and rear differentials with synthetic lube, this will cut rolling resistance.
Installing a K and N air filter is also beneficial. Tuning it up with the best pieces you can afford is another good step. Make sure the vacuum advance is connected and is working. Install a brass terminal cap and rotor button. Get a set of aftermarket spiral core spark plug wires and do not use cheapy part store solid core wires. If the engine has sure enough high miles, over 150,000 you may as well face the writing on the wall, rebuild it before something breaks. If the engines service is still good and you want to install a cam but leave the heads you have on it for now then make sure whatever cam you get has more lift and duration on the exhaust side. The edelbrock performer plus cam would be just right for the stock engine. Add with it the headers, timing chain, intake and 4 barrel carb and the power will go up considerably. Those mods would give you a 50 horse bump in power.
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