The Lightnings came factory with GT-40 intake and heads, but they are SD. Looking at switching over to MAF in the future, but for now SD will be ok. There's no e-check near me so the cats are going bye bye, and I just ordered a set of long tube headers, and a new set of flowmaster 40 series.
Factory ratings on these were 15.7 in the 1/4 and 240hp 380ft-lbs, handles like a 93 Mustang, pretty fun truck really.
dood. you can make that thing run into the 12's, and do it stupidly easy. not necessarily cheap, but definitely easy. since you're already doing headers, also think of a cold air intake. try looking for one of the old ford motorsports ones like they used to make for the mustangs. it's a TRUE cold air intake, as it gets the air from
outside of the engine compartment.
the one i had on my gt had a scoop mounted just on the bottom of the front airdam. it took me from 12.7's down to 12.2's. the other cool thing with the cold air intake, was that i could FEEL it, honestly more than i felt any other mod. from about the top of 2nd gear on up i could feel it.
this has an automatic, right? if so, and you don't want to run a stall converter, you could go to 3.73 rear gears, and run either a b303 or an e303 cam. i had the x303, but although my car passed emissions, technically speaking, the "X" cam is not emissions legal. it has a friggin BEAUTIFUL lopy idle too.

if you run that cam with an automatic, you're going to need at least a 3500rpm converter.
did you know that your engine has a roller cam in it from the factory? or at least it should.