Auto Racing: 1995 Mustang GT, mustang gt, bad shape

Question
Hey Steve...

I recently 'inherited' a 95 Mustang GT from my wife-to-be.  It has a 5.0L engine and automatic transmission.  Amazingly, the engine and transmission have not been rebuilt, and they now have about 115,000 miles on them. Also, the car is in overall bad shape.  What I want to do is to beef things up a little bit under the hood.  Where do think I should start with increasing the car's performance?

Thanks a lot

Dave

Answer
Dave-

  It depends a lot on what you want from the car.  I mean there's fun daily driver...weekend warrior...road racer...all-out power monster...take your pick.  Aftermarket parts for the 5.0L motors are insanely cheap these days since the 4.6L motors are receiving more and more attention and 5.0Ls are "old" technology.  If you can give me an idea of what you want out of it, how much you want to spend, and what kind of power you're looking for, I can give you a good list of parts to look for.  Hope this helps.

Steve