Questions about upgrading my Silverado
 

I have a 1989 chevy silverado 1500, it's restored, interior and exterior. I'm looking to make it faster, but without losing too much mpg, I have $500. If that isn't enough to buy something new that will help then I'm most likely going to spend it on upgrading a system in it.

What could I do to boost the spee/torq, while not losing too much mpg?

There are sveral things that will boost power but they will lower your gas milage, how much depends on what you do. You can put smaller tires on it. You can change the differential gears. You can put a bigger more powerfull engine in it. Chevy has crate engines that put out about 500 hp. Another way to boost power and feel it is with a forced induction system either supercharger or turbo. Most of these suggestions will cost more than $500, much more.

Your 1989 Has TBI...
 

Your TBI and early model computer will have problems reconciling many of the changes that you could do...for example, a new cam and lifters is just a couple hundred bucks, but you won't know if the computer will put up with it until you are done. Heads are the same story.

Sooo...you can go for a 1 inch swirl TBI block and spend the extra money and get the fuel like extender fitting. You can do the job without it but you would have to loosen the fuel lines along the frame and I would avoid that. I also added the 1/4 inch spacer to raise the injectors for better air flow. Set the timing at 6 degrees, but read up on doing it first and disconnect the knock sensor.

New cap, wires, rotor and plug along with a hot coil. Don't skimp on this one, buy the best parts you can afford, especially wires.

Lower gears and shorter tires wil help your ET's, but you wil never get serious horsepower out of the factory heads; they are designed to provide maximum torque in the mid-20s, not high-winding horsepower like for a 'vette. Don't waste your money on fancy air cleaner housings that drink in hot under the hood air instead of that cool fresh stuff you get the stock tubing. The moment you can't draw zero inches of mercury on a vacum guage at maximum rpm you can consider a new air cleaner, but until then don't waste your money.

Once you eliminate all of the smog devices and clear up any exhaust restrictions, consider a chip. You can do all that for less than $500/