OK, now we got something to work with...no Webers or stack injection for sure, as pretty as they are.
With your budget numbers you'll be pretty much stock. That's not a bad thing, I drove mine that way for several months while I built my stroker. A stock 5.0 with a T5 in an FFR is great fun and all the power you need. (I didn't say want, I said need)
3.55 or 3.73 gears are even more fun.
Since you already know the cam you want the rest is pretty easy.
My personal recommendations:
1) Keep the stock heads for now and put your funds into building
the car.
2) An Edelbrock Performer or Weiand Stealth intake. Stay away
from air gaps and high risers for a stock motor. Buy an intake
that has a heat riser under the carb for street driveability.
3) A smallish carb, 600 cfm max, electric choke, vacuum
secondaries. You've got lots of choices here, with prices
fairly competitive. I ran an Edel performer 600 right out of
the box on mine, always ran perfect. Very simple carb.
4) Stock
oil pan, pickup and pump.
5) Stock flywheel and clutch. The stock clutch protects the T5
from excessive torque and it's all you need in a light car.
6) Stock OEM headers. I'll get flamed here, but the OEM headers
actually make more horsepower and torque than aftermarket
headers on a basically stock motor.
7) A reman Duraspark distributer and new module with the
blue grommet from any of the auto parts stores. Right here
you must be certain you have a STEEL gear on the dist..
If you're not certain about the gear that's on your reman dist,
buy an aftermarket STEEL gear and replace it. A street type
coil will be fine, you won't need a 50,000 volt blaster thingy.
I ran the donor EFI coil on mine for a long time, I only replaced
it because it was fugly, it worked fine.
With the street coil you can run an OEM cap, rotor and plug
wires. BTW, the TFI dist in the '91 has a steel gear but the
gear won't fit a Duraspark.
Many of these items can be bought used from the classifieds on this forum, corral.net, ffcobra.com and ebay.
The folks on corral.net have a huge turnover of year-old parts whenever the next latest-greatest part hits the magazines.
Build your car and get it on the street before you start planning upgrades. Get some "seat time", these little cars can be a handfull until you get used to them, even with a stock 5.0.
Have fun, Ed