Finally got some more time, and I am feeling VERY productive.
SUSPENSION
I removed the 3" body lift and replaced it with 1". Just enough that I could still stuff 33's, but much easier to maneuver and quite a bit better looking. Replaced the shocks with Edelbrock IAS units, body lift is from BJ's, had to remove a few extensions installed by the PO to account for the 3" lift. In the process I cracked the front bumper in half (don't ask), so...
BUMPER
Took a piece of 4"x4" square tubing to Steel Werx and had them slap together some brackets. Coming soon: CB antenna, 2x driving lights.
UNDERHOOD
Melted the notorious Motorcraft ignition controller, so I went on eBay and picked up an MSD 6AL. Felt bad with my cheezy plug wires so I went to Summit Racing and got Ford Motorsports 9mm plug wires and a high performance TFI coil. When I get a moment, I think I'm gonna regap my plugs out to .5 (at .44 right now) but I can already really notice the difference with these changes. Highly recommended.
Parts
Steel & Fabrication - $50
MSD 6AL ignition - $100
Ford Motorsports wires - $44
Summit TFI Coil - $29
1" body lift - $45
4x Edelbrock IAS Shocks @ $29/ea - $116
TOTAL: $384
Shown here is the MSD in its temporary resting place, GIANT plug wires, rat's nest of wiring, the invincible Optima battery, and about 150lbs of early 80's smog equipment:
I highly recommend these shocks. Edelbrock regularly sells them for $29/ea shipped. Also in this picture is the giant round pumpkin that they so creativelly named the AMC20 and the hanger for the nicely tucked up Flowmaster 40 series.
I really do enjoy the new stance, and it is a lot easier to get in. The bumper also makes a great step for under hood work.