Hey driller,
No problemo. We need all the opinions we can get.
When I spoke of $500 for both, I should have elaborated a bit I guess.
A) There are lots of used chips can be had for around $200-300. Lots of guys going to 4 bank chips, programmable, etc so as I start, I see no need to go for a new chip intended for a stock Mark running on the street.
B) I feel a decent upgrade is to just swap the gears without going to traction lok. Especially for guys running the 3:08's. Yes, you wind up with one-tire-fire syndrome but if depends on how you want to run the car. If I am a strip animal, I would probably do the traction-lok with 4:10's. If I like to run twisties, I would stay with the IRS the way it is and just toss in some 3:73's for best handling and to maintain a reasonable throttle response in relation to shift points.
So, if someone wants me to spend their $500, I'll come up with a decent chip and some new gears. Sometimes, it is not how much you spend, but how you spend it. I upgraded my exhaust on the '98 with a dual in/out stainless Magnaflow placed after the 3rd cat with Magnaflow stainless resonators replacing the stock mufflers, all welded. For under $225, (my buddy is a dealer so I get to buy at cost) I wound up with the sound I wanted and I picked up a little of that all important seat of the pants feeling. I actually probably lost less than a 1/10th on the bottom and picked up a little more than 2/10ths on the top. But the reason I went that route is for the sound, not performance.
So I guess I agree with Chris. The intake alone is a waste of money like I said. I think you can get some "cobra" badges to put on the covers instead of installing new ones. Maybe I'm just too cheap, but you know what they say about a fool and his money...
Like I once told Joey, I'm a deal freak. I like a deal, no matter what it is. Even on a pair of socks.