Depending on your age range, available money, mechanical ability, etc.
If you're young, the V6 will have lower insurance
If you have money, get a Cobra
If you're a mechanic - ..........do whatever you want cause you know how to do it
A procharger will take a minimum 8 hr. install (not including dyno tune time / fuel upgrades / etc.
Considering I passed a 95 GT today that was for sale for 4500, I'd definitely go that route (Ol' Reliable 5.0)