if it was me i would go turbo which is what i did on my 94 cobra.as for parts it all depends on how much power you are looking to make.you can run some gt40 heads,Ecam trick flow intake and a 70mm turbo and make around 450...only other thing you might need to do is fule system.

if you are looking for parts let me know i have some stuff im selling now on craigslist heads,intake,t-5 transmission