Gigabox,
It seems your thread has been hijacked into a discussion of cold air intake.
The biggest hurdle to making more power with our engines is the cylinder head design. Improvements can definetely be made without changing or modifing the head but that is the most effective.
$1000 dollars can make a big improvement.
Since you went with a Petronix ignition I would recommend getting a 68 or later distributor with both mechanical and vaccum advance, cap and rotor with brass fittings, a good set of wires (Accel, etc), and a good set of plugs. Get a 40,000 + volt coil and use dielectic grease on all your fittings. Gap you plugs at .045 to take advantage of the hotter spark.
With the ignition taken care of let's get it some more gas. I went with a Holley/Weber 5200 with a funnel type adaptor from Clifford performance. You can get the carb from Stovebolt engines rebuilt for less than $75.00 the adaptor is around $70.00. You will have to fabricate the throttle linkage but it is not hard. This carb is a progressive two barrell with a mechanical secondary. It has given me a big improvement in gas mileage and performance. I have a water heated choke that uses the heater hoses to supply the heat. It's a good carb and I would recommend it. You can also use a 1101 Autolite from a 250 engine if you want to keep you car looking original or if you want more power you can go with a Holley 2300 either direct mounted to the head, (you will have to pull the head and have it machined for this) or through a funnel adaptor from Cliffords. You will also have to manufacture throttle linkage for the Holley.
I don't have experience with either of these mod's but there is alot of information on both of them in this forum.
On to the exhaust. To this point you have probably spent $300 or so if you go with the H/W carb mod and recommended ignition upgrades. Exhaust can be expensive according to what you want. If you want to keep it looking original get a 69 or later exhaust manifold run 2.5 pipe to a turbo style muffler. If you don't care about keeping the original look get a single out header run 2.5 pipe to a turbo style muffler. Headers are about $300 the exhaust will probably run another $100 or so. If you want the sound of duals get a dual out header and run true duals out with 2 inch pipe. It will not improve the horsepower over a single out but it will have a better sound in my opinion. It will add weight and cost however your choice.
A nice flex fan, some paint to detail the engine compartment, a neat looking air cleaner, new hoses etc.. will spend the rest of your money. Then you can start saving for the next upgrade, hipo head work on that lopo head. Cam upgrade, t-5 tranny, 8" rear, disk brakes, new lowered suspension and on and on and on......
Have fun,
Bob