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I own a nearly stock 1986 F150 with 4.9L engine. Due to the previous owner's actions, there are no emission controls other than it still retains the factory catalytic converters. It has a non-feedback Carter and a DS2 distributor. It runs quite well.
I have always enjoyed reading threads detailing engine upgrades and accept that most state to determine what type of performance you are looking for and then do research and make a plan.
I am fairly familiar with the standard upgrade suggestions [i.e. P&P head, FI exhaust or long tube headers, Offy or Clifford intake, RV type cam, small 4 barrel, DS2 distributor, etc.].
Most seem to be looking for 200-300 HP. What combination of modifications would make up a more modest 150-160 HP? Some may laugh, but compared to the stock 117-120 HP, that is a 25-35% increase, certainly enough to be felt and enjoyed.
A decent flowing exhaust is always an improvement over stock, and all other mods become useless without a decent exhaust.
I truly believe most of the HP increase in the EFI 300's came from the exhaust. The intake also didn't hurt, but would have netted little gain without a freer flowing exhaust......
DD computer projection on my engine (see signature) is 212 hp and close to a projected 300 # torque. It won't cost any more to get a gain like that than it will to get what you are shooting for. The standard upgrades that you have already mentioned are it.
I think a 4bbl intake will get you there(and then some probably) for sure, and the EFI manifolds might get you there, but I'm not sure how much extra power they add. My guess would be that the EFI manifolds will add 15-25 HP to a stock engine.
from what I understand the head is the bigest restriction and once you open that up you need to do the exhaust/intake to feed it proper, If you dont have to pass emissions then toss the cat and run like 2.5" out the back to a free flow muffler off a walker Y-pipe and the efi manifolds
headers most likely will need to be mod'd to fit(long tubes for sure) and the EFI most likely wont need any and bolt right up.
If no smog air pump then that bracket can be cut in half and will be out of the way as well as lite'n the load a bit
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