1986 Tbird Perf Upgrades
Reply #2 –
The factory air intake is already a cold air intake. remove the silencer from the inner fender, install a K&N filter and it's good.
Your stock heads are E-6 heads. E-7 heads are cheap and plentiful and were used on the '87 up Mustang GT's. They will help a bit. Explorer GT-40 heads are plentiful and if you shop around, fairly priced ata times, they are better than the E-7 heads. You have flat top pistons, so you will need to watch for piston to valve clearance. I'd bet the GT-40 heads will work fine with better aftermarket springs.
An H.O conversion would really help you. It's pretty cheap and easy.....H.O cam, Speed Density computer (about $50-75), 19# injectors. That's about it. Of course you'll need gaskets and such, and I'd swap the timing chain as well.
An Explorer intake , 65mm throttle body, and 65mm throttle body spacer will be a good addition, and they can be had pretty cheap as well, and will make a difference. The cam will help a lot. The H.O cams are cheap, and will really wake up your car. A good exhaust is never a bad thing. And then gears....that will make a huge difference.