IMHO, in order: Safety - fix everything under the car that is a safety concern (ball joints, tie rod ends, bushings, chassis rust, bent parts, missing nuts/bolts, flexible brake lines, leaking anything in the brake system, engine, trans, and diff mounts, steering rack boots, u-joints in the drive and half shafts, wheel bearings, hubs, lighting, gauges, etc.) Reliability - All the cooling systems, oiling system, electrical all works with no shorts, alternator and battery good, complete engine tune-up, fluid changes, etc. Then move on to improving the cars performance: LSD first - the single best modification you can do to improve lap times. Suspension - Increase spring rate, upgrade the shocks, anti-roll bars, performance alignment. Tires and wheels - light wheels and sticky tire compounds. A 205 width Hoosier A6 will grip far better then a 275 width Sears Roadhandler. Body and paint. Engine and trans mods.