Badbyrd,
Well if its a 390
rated at 325 horse or even a CJ at 335 horse, I stick with the recommendation, stock distributors have too much and too slow of advance which forces you to run initial low or too much total for healthy throttle work. Stock 390 exhaust on most is the worst of the bunch and although a CJ is a little better it isn't great.
If it's a dyno'd 325 horse 390, you probably already have had those things done
![Smiley :)](http://fepower.net/simplemachinesforum/Smileys/default/smiley.gif)
With that being said I flopped back and forth on gears and street tuning first, it really depends what current gears are. 3.25s vs 2-somethings are a big difference.
In my opinion though, I look at it in bigger steps, mostly budget driven and especially when the owner has a car that may not be worth big money
1 - Drivability/making the heart beat harder - Curve/headers/exhaust/gear/shift kit -
Sound and torque really just makes it more fun2 - Breathe a little - Intake/carb/mild cam -
Same as above, but not really making big numbers without headwork and matching components3 - Start making some numbers - Closely planned displacement, compression, cam, intake and heads for the purpose (full build)
To me it really depends on budget, a hard shifting properly geared 390
2 barrel with headers nice pipes and a recurve will be a BLAST to take out around town a chirp tires, etc, but at some point, like most have said, you need to think about where you are going and make sure you aren't spending money twice or three times.
Keep in mind, even a gear choice may be a compromise at first, if you match it to a 5000 rpm peak 390 then build a 6000 rpm peak 427, that's really why those things that are cheap or labor-only were on my list first