The engine responds real well to aftermarket parts.
Like Mike said, do away with the balance shaft.
I helped a friend do some mods on his engine some years ago.
He retrofitted the engine with a pair of late model Vortec heads with clean up port work, rocker studs, stiffer springs and steel retainers. Comp Cams hydraulic roller cam, timing set and rockers, Edelbrock Performer intake, 600 CFM Holley carb and a Performance Distributors Non-computer HEI. It really woke up the engine.
Here are links to some good articles he used:
http://www.hotrod.com/techarticles/e...d/viewall.html
http://www.hotrod.com/pitstop/hrdp_0...6_performance/