460 on a "Budget"

This weekend I'll be bringing home (to the dismay of everyone I compete for parking space with) a 1977 Lincoln Continental. It has a few cosmetic issues that are no big deal, really straight car. Picking it up for $1250, way way under blue book. It has the stock castrated 460 in it.

I've decided that I will spend no more than 2-3 grand on this engine. Whatever I can get out of it for 2-3 grand is what I'll have to be happy with. What are the most important things you guys would recommend to open this baby up a bit?

Oh yeah, the most important part... PICS!

Heads, Cam, Carb, Intake

I had already figured on the carb and intake, and from what I can tell about these engines is that its the heads where you make you're money. Can you offer more specifics? Thank you kindly. Mike.

Ford retarded the cams 8* for emissions early 70s--just get a straight up timing gear/chain set and you'll pick up 40lbs torque

Dual exhausts

Manifold and Holley 850

Maybe rear gear

Flat top pistons

Would those up the compression? I've done some reading and this engine has a 8:1 ratio. If I bring that up a bit could I cut back on fuel consumption while raising power?

Timing set and cam....As Jerry said, just changing the chain and gears to a straight up set increase the torque significantly!!!! With a land barge like that, go with parts that are designed to increase the torque, takes a ton of it to get a car that heavy moving. Local guy here has a gorgeous '73 Mark----he built a 557 incher for it! Works great other then fuel mileage....