If you wanna go power first, I would go Skunk2 intake manifold, AEM fuel rail, clean or new injectors (not high flow though), adjustable fuel pressure regular, bolt that on, and BAM! like extra 10-20 ponies.
Or you could do port/polish head, comp or skunk2 cams, retainers, valves, springs, and cam gears, and with tuning, and BAM! 20 or more ponies.
I myself would do suspension first though, that can really shave off the seconds. Good luck!