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There is always the usual. Better mufflers, K&N, check all the important stuff as well. Make sure you have a new fuel filter, cap & rotor, plugs..... Next thing would be a little better cam. Don't go too big. Stay in the 205-215 duration @ .050" range to keep it streetable. Also, your factory heads suck. If you are going to get serious, put better heads on it. Ganey, Mountain, how did I do?
I found with my 79 L82, the two biggest problems were carb and exaust. I put a 650 Edelbrock (with square bore adaptor) on the stock intake. Once that was tuned in it made a big difference, when I put on a set of Hooker comp. header/sidepipes it was a different machine performance wise. For the cheapest way out, deal with your Vette's breathing, it will make a difference :)
depending on the amount you want to spend, you can make an L-81 very respectable. first and absolutely formost, run over something that destroys the factory catalytic converter, then replace it with a test pipe (if you can get away with it) or a good hi-flow cat. second, get rid of the gawdawful factory headers and get some decent ones. also, a nice hot ignition will help. don't expect miracle performance but it will provide better ignition and consistancy. if you can, chuck the mechanical fan in favor of electrics. they don't give you any more power, they just don't consume the HP the mechanical uses. K&N, maybe a chip, lower thermostat: 5-10hp combined, maybe. after that, your going into the engine. good luck and have fun. L-81s are great cars when they run right! ;)
Excellent advice from all! The only thing I want to add is 1.6 Roller Rockers. They are a bolt on 8+ hp & tq. They also lower temps and smoother/quieter. When you rebuild w/mild cam, the RRs are still useable in the combo. An oil cooler can reduce power loss from excessive temps. Over 200 you are losing power. The electric fan can save 10 hp and a keeping temps down can save 5+. Best part is all these mods will add power and improve mpg!
taijutsu, i was going to recommend the 1.6's but i thought you had to machine the pushrod slot for the not to bind. is that correct? i need to know because i just ordered the 'louis tool' from summit today to mill out the hole on a set of rebuilt heads i'm putting on my engine next weekend. if i don't need it, i'll save myself the $30. i also dont' want to bend pushrods if i don't do this.