autoxcuda would be the guy that you really want to talk to on this one. He's actually out there racing!
As far as setting up your car goes, there are some simple steps to take that will really help things out.
In the front:
1" torsion bars or larger
Reinforced LCA's
Offset bushing for the UCA's (to get the alignment right)
All new bushings, ball joints, tie rod ends, etc.
Front sway bar (preferably aftermarket, ie, larger than stock)
Good shocks!
In the back:
120-140 lb/in springs, roughly zero arch
All new bushings
Good shocks
Rear sway bar
For the car:
Lower is better
Subframe connectors
Rebuilt or upgraded steering box (Firm Feel, faster ratio's, etc)
Brakes- if you've got 9" drums all around, that won't cut it. 10" drums and the standard 10.8" disks are fine to start. Bigger puts you in a different class most times anyway
Wheels - 15-17" rims, modern compound tires (NOT T/A's)
Alignment- 0 to -.5 camber (or more for racing), +3 to +4 caster, 1/16" to 1/8" toe in
The alterkation front end is not what I would use for racing, or road handling. The torsion bar set up is a great design and has won plenty of races. Also, changing the suspension like that will immediately put you in a completely different class in most racing organizations. Not usually somewhere you want to be.
The Hotchkis TVS kit really sets the bar I think for road handling. Some of their stuff is overkill, and its expensive (but very high quality). For getting your feet wet you don't have to get tubular UCAs right off the bat (they can also put you in a more competitive class). You can get torsion bars and frame connectors elsewhere for less money that perform just as well, same for the adjustable strut rods and steering links. But the Hotchkis kit really covers everything, and their components are top notch.
There's a ton more to it, and I haven't covered everything. But there's already quite a few threads on here that cover how to set up an A-body for autocross or road racing, doing a search would give you plenty of reading material.
