i have just gotten this car i need to do some minor boddy work and needs a trani but im wondering before i just replace transmission what are some preformance ideas that wont require to much change and will give me some decent power for the buck

 

I'd get that tranny fixed before anything else, but you could start with the basic tune up. Spark plugs, wires, fuel filter, anything that will help it run better. Then you will have a good base to start from, and confidence that the engine is running good since you just bought it.

 

honestly if your looking for any decent power you need to ditch that tbi 305. i have the same car btw.

what i would do in your case is throw on a open element filter, do a nice tune up, do some headers ( 305 manifolds SUCK) and leave it at that. if you want more power pick up a 350 for a few hundred and start spending parts on that, it will be way more efficiant.

if you insist on keeping the 305, do this is what you can do to it sticking with a decent budget:

have a full quality exhaust made
stock cam out of an lt1 ( can be had for dirt cheap)
mill your heads ( your compression is lame) or find better heads, maybe used for cheap
find a 670 (larger) cfm throttle body off a tbi big block
performer tbi intake from edelbrock
and have a nice tune done... do not skimp out on this.

after all that you should be making close to 300 at the crank and youll have a nice reliable motor with some power too.