Congrats on your car.. I am not sure who said it first... but...
DONT MOD YOUR CAR.
yet...
Get use to driving it... then build it up slowly since you're just really starting to drive.
Depending on what you want from the car is how you build it. I have built enough of my own cars already to know...
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Don't get 3.73s - you will be dissapointed when you drive a car with 4.10's (Unless you're getting blown - see below). There really isn't much of a different MPH wise (you do not top out much earlier). With 4.10 @ 5500 rpms you're doing 99mph in 4th gear... with 3.73 at the same rates, you're doing 109mph... All that being said 2 cars of equal power, the 4.10 will beat the 3.73 in a qtr mile race... now if you want to race upwards of 150mph you need to keep your stock gears and make sure you're not racing around me.
Underdrive pulleys - Do not get the BBK ones. They're piggyback style pullies and what tends to happen is they throw the car out of balance and can seriously damage your motor. To my knowledge (unless they discontinued them) BBK only makes piggyback style. You want to go with a style like Steeda that gives you all brand new pulleys; do not get piggy back pullies. (4-6rwhp)
Exhaust - This can get sticky... first off there isn't much of a peak power difference between Hpipe or Xpipe... the difference in them powerwise lies where the power is. Hpipes typically give you more low end torque, whereas xpipes give you more high end power. The hpipe typically has a rumble sound to it, a xpipe has a higher sound (comparable to NASCAR).. for a Mustang GT 2v motor which is notorious for losing top end power; if you like the sound - I would go with a xpipe as thats where it'll benefit you the most - plus if you do go with gears, you won't need the extra low end power. You will also want to replace the mufflers; there is a common answer to which ones... Hpipe = Chambered mufflers, and xpipe = free flowing mufflers. (7-15rwhp)
Headers - Long tube and short tube - VERY EXPENSIVE for these cars; will run you close to 1,000 unless you do install work yourself. Go longtube or go home - the shorty headers are virtually useless as our stock manifolds are good enough typically. (10-15rwhp)
Shifter (only if car is 5spd) - Short throw shifter; very nice to have... go with Steeda, or MGW. I prefer MGW because of comfort and it rotates
www.mgwltd.com
Throttle body and plenum - Increases air into your intake manifold. Go with 75mm, you will hear that you should go 70mm unless you're getting a blower, but that is nonsense (I proved it on my car via dyno). (4-8rwhp)
Cams - Loss of low end torque but gives you higher rwhp peak numbers; I would only do these if you really like the sound.. the cost/power benefit (like headers) just really isn't worth it.
Supercharger - - Once you get use to your car, the best thing imo to do if you want horsepower is to go with a gears/blower combo. They make two kinds of blowers centrifugal (procharger, vortech), and twin screw/roots style (Kenne Bell, eaton) for the 2v cars due to the lack of top end I would get a procharger or a vortech - the kits cost around 2-3500 and you will basically top out the max power on your car in current form, combined with suspension upgrades and gears you will have a fast car. THis is what I would advise.
Centri supercharger, 3.73 gears, exhaust, built rear end, and drag tires. You will have an 11 second GT.
Just a question of how much you wanna spend...