I've been debating various performance upgrades and have asked a few people their opinions, but I'm still a little bit lost. First off, some info on my truck:
-1994 4x4
-5.0
-Manual Trans
-173,000 mi

I have been told a few things I can do are:
-Camshafts
-Cold air intake
-Intake manifold
-Ignition coil/distributor
-Headers after some engine upgrades

Of these, I was told that a camshaft's negatives would outweigh its positives, and that I'd be better off not doing it, which I don't particularly mind. I'm not sure what kind of power/MPG increases I might see from the others and weather they are worth doing or not. If there are other upgrades that I haven't been told that are in the $10-$300ish range (parts only), feel free to tell me. Thanks for your help!

 

Camm and heads are teribble from factory. But ya need both to really notice.

Intake manifold is really good especially with some port work when ya get heads.

CAI is a waste IMO. Stock is a real good set up as well

 

So by just upgrading the intake, I won't notice much? I hesitate to do cams because doing them myself will be really time consuming but also its a timing element in the engine, and I'd hate to mess it up. If I have a shop do it, it will cost me an arm and a leg. Is there anything else relatively easy and in my price range I can upgrade?

 

Just do maintenance on it.. Good complete tuneup. Fluids all throughout with synthetics in all of it unless it already leaks

 

REGEAR! Do all you want to the heads/exhaust but if you want a night and day difference - regearing is the way to go. For your 5.0 I recommend 4.10's without OD. I will admit it is a bit pricey and that price will go up with 4x4.

If want to keep it on the down low, free up your Y-pipe. Its a bottleneck on these trucks with 2 cats and a muffler.

 

I agree on the regear as well.. I'm gonna go 4.10's and maybe 4.56's

 

Yea, I'm going 4.10 gears with 31s, and probably a cam or 1.7 rockers, but I'm after torque more than speed, and the gears will help with both. So if you want more power when towing and want more speed when not towing, gears are great, but pricy for a shop and tough to do by yourself, and incredibly important to do correctly. Luckily for me, I know a guy that will help me do it for free, and I shall learn how to do gears lol. Gears also don't change the actual engine power, just power to the ground, so reliability is the same as it is now. Gas mileage could go down though, depends on several factors, what gearing you have know, tire size, terrain you drive on, and how much city/ highway driving you do.

Also, my own quick question, is it ok to put new heads on an 18 year old engine, mileage is still pretty low, 156,000, but I'm a little nervous about putting new heads on an 28 year old engine.

 

Oh shoot with a 5 speed 5.0, 4.10 gears would be fun. Just saw it was a five speed. I'd definitely go 4.10 with a 5 speed, mpg might go down a little but it would be a lot of fun to drive. If you didn't have a 5 speed or overdrive I'd be cautious of 4.10 gearing on stock sized tires, highway mpg would suck lol. But your fine.

 

How much are we talking to have it regeared? I did a little bit of research to see what it is; make sure I'm understanding this right. Regearing to 4.10 WITHOUT engine mods should give me increased power and fuel economy?

 

I have 31's on there right now, I'm unsure of the current ratio (assuming 3.73). What can I do to make sure my MPG doesn't fall through the floor? I'm getting about 14 city, 16-17 highway.
Also, Nick, you mentioned freeing up the exhaust, I chopped out the muffler, but I'm in an emissions controlled part of Colorado, so I need at least one cat (ran really close on NOx emission on my test last year).