Welcome and congrats on the purchase.

People have been giving suggestions as to power mods and whatnot but let me give you a different perspective. If you want to go fast, save up for a quality turbo. I/H/C/E, intake manifolds, DIY advanced timing and whatnot are all decent bolt-on power adders, but you're not going to be smoking anyone at the stoplight with just those.

I would get some decent tires (if you're still on the stockies) and invest in a quality suspension BEFORE changing anything in the engine bay.

Shingo