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From a pure stock, I would upgrade in the following order----HEI (usually availabe from a later model (75-6-7 truck) at around $35-50. will give you more power, quicker starting, etc. NEXT, if you have stock single exhaust, swap to duals and increse the air flow out the back----if noise is not a problem---go to headers as well---should give you more HP and improve MPG. Switching to an Edlebrock carb and intake will cost a bit but also improve MPG and HP.
All of the above could be done for around $300-400. Now depending on what you want to accomplish, MPH or HP, you could change rear gears or transmission as well. My 72 originally got about 12-13mpg---after all of the above including a 5 speed, I have significanlty more power and up to 22mpg on the highway. Hope this helps---good luck---Huck
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