Timing Dance ! Vacume Advance ?
Want more HP to the wheels? Swap in a 4-speed! :-D
Like moper said, tune it up and once it's running as well as possible start looking at things to swap. What heads do you have currently? If they're stock J's you could probably gain another 75 HP with porting or aftermarket ones. What's your exhaust setup too? Might gain 10-15 HP going from H- to X-pipe, or more if you currently have no crossover at all.