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Well I think a good cam and timing chain are the best place to start. Personally I really like the Comp XE256. Headers, intake, and a good carb. Also I must say i'm a huge fan of the DUI Distributor. I recently installed one and I'm very happy with it. These are some of the easier mods to do. Of course you can get much deeper and bump compression, etc. I had to build on a budget however and added one thing at a time. If a person had to start with one thing, I would do the cam first as it affects the rest of the build down the line.
This Hennessey Takes the Expedition Tremor's Off-Roading Capability to the Next Level
Slideshow: The VelociRaptor Expedition gains a lift, upgraded suspension, Brembo brakes, and trail-ready equipment while retaining the stock 440-horsepower EcoBoost V6.
Rezvani's Latest Post-Apocalyptic 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.