For any given engine size, here is where I consider the gains and size of the gains
BIG GAINS
1. heads
2. cam
both of these can add a pile of HP to an existing engine. Heads move the HP graph almost vertically and the cam can move it almost anywhere you want.
MEDIUM GAINS
3. exhaust
4. compression
5. manifold
compression certainly increases power...all the way up to 17:1. It's not a very pratcial method of gaining HP with an existing engine. Exhaust can add a solid amount of HP gains to an engine. a) Shorty headers to Full length headers.
b) 2" ID sidepipe muffler to 3" ID sidepipe muffler
c) regular headers to new stepped race headers
these all add HP...as much as 10% or more. A 454 engine with 500HP using small headers and mufflers will jump to 573HP when going to large stepped race headers.
going from a dual plane manifold to a single can add 5% or more HP. Adding a 1" carb spacer to the single plane adds more HP again. The taller than manifold, the higher the HP generally.
SMALL GAINS
6. carb
going up a size or two on carb can add a tiny bit HP. Most people have too much carb to begin with. Going from a dual plane manifold to a single will add HP, but not too much.
ACTUAL PARTS
HEADS
how about a set of PerformerRPM FE 6007
Performer RPM FE $1250
http://www.edelbrock.com/automotive/headford.html
CAM
how about a radical crane hydraulic roller cam for FE engines. 75-90HP over stock. Or a "serious" and "radical" performance solid roller at 70+HP over stock
http://www.cranecams.com/motorsports...ler/349541.htm
http://www.cranecams.com/motorsports/ford/343801.htm
http://www.cranecams.com/motorsports/ford/344621.htm
EXHAUST
Hoooker FE competition
http://www.holley.com/HiOctn/ProdLin...SHG/f6376.html
stepped race headers look more like this and you would most likely haev to get them custom bent at a custom header shop
http://www.holley.com/HiOctn/ProdLin...SHG/f2404.html
here is a nice site to calculate best header length for max power. Pick an RPM approx 200-400 over peak TQ for your engine and then you can see how long each header pipe should be
http://www.prestage.com/carmath/calc_headerlength.asp
MANIFOLD
Victor Performer FE or maybe even a crazy Victor but consult with an engine builder first on that unit.
http://www.edelbrock.com/automotive/man_ford_332.html
Edelbrick even sells a complete package for the 390 FE called the Performer Ford 390 c.i.d. Power Package
http://www.edelbrock.com/automotive/ford_2c.html
here are the gains over stock.
http://www.edelbrock.com/automotive/2105graph.html
hope this info is useful
Andy