Hello,
This will be alittle long but im in need of some help. My neighbor and I, Always argue when it comes to cars, Hes and Import guy and i am a pure Mustang man. We decided we'd both buy cars for under 8000$ and proceed to beef them up. Basically see who can put togeather the baddest car. I just bought a 1997 Mustang Cobra its Black on Black and has 130,000 miles...BBK X Pipe,Magnaflow Catbak exhaust, a centerforce duel disc clutch, and its been lowerd 2". It was 6000$ so i figured why not?
He bought a 1992 Mitsubishi VR4 twin turbo, no upgrades and 106000 miles. We raced and the Cobra kept up pretty good, it was more or less even. But i wana smoke him and make it no question. He cant stand Mustangs and talks crap about mine all the time.

Basically i need advice on where to go with this project so i can teach him some respect. Im by no means an expert.
Overall it runs pretty good, it has alittle less power then ied like, and when im shifting to 2nd it tends to grind every once in awhile. Other then that it seems totally fine.
Alright, now my question. The loss of power i expected because of the miliage. First, what should i check for on the car/replace, since it has quite alot of miliage. Second, what should i replace first as far as the engine goes to regain some power back. Lastly What are good power starters to add and kick to it.
Thanks for all the help in advance. I will post pics ASAP.