Welcome aboard '65. Answers? Oh, we've got lots of answers.

I'll give you my opinion, and then maybe someone will have another thought. I base my answer on the reality that some day you're going to move on to another car. Either for the sake of change, or because your interests will evolve.

My take on your particular car is that it is a waste of money to do too much "hot rodding" to a four door. When it comes time to move to the next car, you won't be able to get the money you sunk in it back out. The market for performance cars leans HEAVILY to two doors (and two doors on each side don't count ). My suggestion to you is to make your current car as safe and reliable as practical. Impove it's appearance as much as possible regarding paint and upholstery. That way, when you earn more money in the future, and increase your knowledge base regarding the kind of performance car you like, you can get the max return on the sale of this car. A $700 budget won't get you much today with respect to engine mods unless you have considerable mechanical experience and skill, coupled with a good gift of horse tradin' ability.