2200 stall

Eddlebrock makes a TBI intake manifold that is comparable to a good 4Bbl manifold.

Get a small cam 210/215 .490 range, there are a bunch that can be had for less than $200.

150 HP N20 plate system. The TBI system should allow for the placement of a NOS Sniper plate.

That could get your freind into the high 12s. But realisticaly a 350 swap is his best bet.