My first question... Do you have lots of money? Cause if you don't there isn't much that you can do to a 4.6 Ford thad is going to help you much. Plus, before you stick much power into it, guess what?
Hyperurectic piston rods that break with anything much over 100hp over stock
Weak C-clip retention rear, when it breaks your axles go bye bye behind you
Limited aftermarket for high flow fuel injection
The best thing you can do that I can think of for under 500 bucks is get a Hypertech performance chip. Thatz it.
For 7000 bucks, you could rebuild your motor with forged piston rods (1000 bucks), port and polish the heads, get an X303 cam set (this will set you up for any aftermarket supercharger boost up to like 15 psi) , convert the automatic to a manual (tranny/pedals/clutch inkage out of wrecked Mustang of the same year nessecary fo the wild cam) and get the c-clip rear converted (kits available)
Then you'd be sitting pretty. Throw in any compatible supercharger or nitrous kit and run 11's (with the right tires). This is what my Crown Vic is getting if I hit the lottery... //content.invisioncic.com/y282845/emoticons/driving.gif.c4dead4599dda895032b63e51f52b126.gif//content.invisioncic.com/y282845/emoticons/toast.gif.bc0657bf54b9ee653b6438524461341e.gif
Not much you can do to the 4.6L?
How do you figure?
Stock BHP on the 4.6 was generally between 205 -225HP. I know several Tbird/Cougar owners that are pushing close to and over 350 HP with stock rods as well.
My own 4.6 is pushing just under 300 HP now, also on stock rods with 101,588 miles.
Ford built the 4.6 to replace the 5.0. They obviously had to have a more efficient and equally reliable design to do so, hence the 4.6.
The newer OEM SVT Cobra's are pushing 390 BHP, and there are a good number of people on stangnet that have considerably exceded that rating with a few minor bolt on's.
The 4.6 has also been Ford's "Flagship" engine for nearly the past 10 years, and has won more d*mn awards for design (including JD Power) than many cars win as a whole.
Adding in those few site's that I previously referenced, I see no problem with performance, aftermarket, or reliability, with the 4.6 at all.
Ford Motorsports themselves has performance parts readily available for this engine, and they are incredibly easy to come by. Summit, Jegs, JC Whitnet, Aeorspeed, etc.
The best thing that one could do in this scenario would be to visit a few of the sites that I previously mentioned, and grab a copy of a recent Mustang Mag. The aftermarket ad's practically fly out of the pages for the 4.6.
The intake and exhaust are were I would begin the mods.
Simple, bolt on, and necessary on most engine build ups.
Trick flow makes a ported throttle body and upper elbow for the 4.6L that can both be had for under $350 through Summit.
Borla, Flowmaster, BBK, Pace Setter, etc all make bolt up exhaust kits, headers, cat-backs for various prices. Even custom bending pipes for your own exhaust is fairly reasonable if you have a decent shop in your area.
-Custom 2.25" dual's from the cat's back only ran me $175.
Just have to be resourcefull when looking for parts. There are a slew of deals out there on quality parts, you just have to be patient to find some.