What Should I Do Next?

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I did my suspension before I did any major engine work. Aside from the imporved handling, it got rid of the 4x4 stance that our cars come with. It just made the car more enjoyable to drive. I'd do everything in the same order if I had it to do again.
 
Suspension 1st without a doubt.

Its now how much horsepower you have, its how you get it to the ground.

Now you have to ask yourself, what kind of suspension... STREET/STRIP(mild suspension), ROAD RACE(very tight suspension) or full DRAG(very loose suspension).

Basic suspension for a cruiser/racer is front and rear shock/struts, subframes along with rear uppers and lowers.

Then I would definantly get a shifter. The stock unit is crap IMO.

Then I would put the rest of the money aside for a nice Heads/Cam/Intake setup... but make sure you outline the future of the car. Will it have a power adder later? Will that setup be adequate enough to hold the additional power?
 
What you do to your car greatly depends on what you want your car to do. If you want big dyno numbers go with some headers and then save for the heads. Stock headers are bad for HP. If you want to drag race, you need traction, in which case some control arms and subframes will help a lot. If you want to go autocrossing then go with either a brake upgrade or a suspension upgrade as either will get you around the course quicker. Buying parts on mere public opinion will not get you the car you want, it will get you the car they want. So figure out what you want your car to be and make a plan.