with up to a 10K budget, i would start with the chassis and sort that fully with something like kenny browns subframe connectors, extreme matrix brace, and jacking rails. i would also install battle boxes to reinforce the rear
suspension mounting points.
then i would move to the
suspension starting in the rear where i would go with a torque arm
suspension with a
panhard bar, and koni or tokico shocks.
then move to the front
suspension where i would swap the K member for one that would use factory
suspension parts, but had upgraded
suspension geometry. i would use the sn95
suspension arms along with 94-95 spindles and cobra brakes. i would also add something like
eibach variable rate springs on all four corners.
for the drive train, i would upgrade everything, starting with a crate 331 topped with a proper supercharger pushing about 10psi boost. of course the trans, rear end, and drive shaft would all be properly upgraded to handle the power.