240 hp 280 lbs torque stock....stock 1/4 mile time are in the 14's somewhere i think ...cold air intake,pcm,exhaust work....would be a good place to start.
160 is too cold. a 180 is just fine for the thermostat.
pcm's are a must once you start getting more and more modded.
the exhaust system past the downpipe is good for 350 whp. leave it on and keep it quiet.