It's all about getting as much fuel and air through as possible!
Here's how I'd do it:
Port the head as far as it can go, get a good cam with a nice power band of say 3000-7000 (crow do a wicked street/race cam with great specs and the same power band that I had on my old Pinto), get some bigger valves and good valve springs to get the extra revs, and some twin 48 DCOE/DHLA's as a minimum.
For the bottom end I'd probably have it bored out 60thou at least, then do necessary strengthening such as pistons and rods.
With that sorted you can move on to a good electronic ignition, and a good electronic fuel pump (anything that's not a Holley, that's just my opinion and preference) and also a good exhaust is definitely important, I wouldn't bother with an "off the shelf" system ;)
Makes me want to do it now. Hahaha.