ok Speed, before you get even more confused, here't eh plan:
1) Learn some automechanical basics, howstuffworks.com will give you some basics
As I said before, get some good books, either from gt4tified; his site is
http://www.scienceofspeed.net/ http://www.scienceofspeed.net/Products.phpor amazon.com and learn for yourself
2) do some research and keep your plans simple. First thing, make your car reliable before you even begin to consider modifications. Why? Because good mods on a poorly running car gives bad results and can make things worse, and make you waste good money diagnosing bad tuning.
3) Once your engine, wiring and cooling are all up to standard, make sure your suspension is in proper order, ie replace those worn bushes and ends, replace old brake and clutch seals, etc
4) Upgrades...........first thing's first: no single mod will give you better performance. Having said that, your first plan shold be to make your engine inhale and exhale better, so maybe a single downdraught weber and tubular exhaust manifold (extractors) Later on you can upgrade to twin side draughts, and MSD electronic ignition. Good stock suspension will be enough to handle the extra gains as long as your tyres are good
5) Don't expect huge power gains. No matter what all these old school fcuks tell you, there is a limit to what you can expect from a stock engine. Real power requires lots of money and work, so don't get your hopes up to high.
Take the car as an opportunity to learn the basics and develop your tuning skills. And read a lot because all the 'old school ford men' for the most part, talk a load ofshit, and their years of 'experience' is based on guessing, trial and error and seat-of-pants feelings...........all of which is kaka.............