Hi Jennifer,
It's a very good idea to decide on a budget. There's an old saying,"how fast do you wanna go = How much money can you spend"
My thoughts are, it's easy to make lots of power (cheap) by starting off with a nice 455.
The next easiest way to cut time off of your time would be to install a set of Edelbrock heads and intake, a cam and carb to fit your combination and a set of headers. Then you have the torque converter, rear end gears and tires. So there's lot's to think about.
So My suggestion is go for the cubic inches.
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