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For weight reduction, remove the spare tire, front sway bar and bracket assembly (if so equipped). You can advance the base timing even more with higher octane fuel, but that'll depend on your budget of course.
If you are experiencing wheel hop, I'd suggest you install a set of traction bars to keep from snapping an axle and/or driveshaft. Lakewood makes a set for 2wd applications and they're fairly inexpensive. A cheaper option is to use find a set of used GEN 1 Lightning slapper leaf spring bars and shim the snubbers so they make contact the leaf springs.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.