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Have heard that some simple ways to get a few extra horses is to put a K&N filter on, Chip, and airfoil in the throttle body. Anybody done this on a Bronco or know of a manufacturer of chips that don't require premium fuel?
Actually, if you get a tuner, you can tune without using premium. Other than that, for HP that is really noticeable, you are going to be looking at at least $300 and it goes from there. Unless of course you haven't done the usuall fuel filter change. I did put just a K&N air fliter in and noticed just a touch of help. But nothing to really get excited about.
Superchips and Diablo make custom or selectable chips/programmers that allow you to change your performance profile. This includes programs that use 87Octane. You will not see any significant performance gain with that setup. Check out the Chips & Programmers forum, lots of good information in there.
As far as "inexpensive" I agree with Christop43, the cheapest way to improve performance is to perform a "full" tune-up with quality parts.
To see a real gain you will need to break out the checkbook. Headers are the best place to start. Improving your intake flow will not help much if your exhaust is restricted by factory manifolds and exhaust system.
Good luck!