Do not bypass the IAT.
Find the correct resistance rating for temperature at 75F and put in place if idle air temp sensor. it will trick the car computer into thinking the temp is 75F at all times.
You'll lose the ability to compensate for temperature. You'll lose tons of power when it's sub-zero (sub-32 for my Fahrenheit-loving neighbours), and risk detonation at warmer temperatures.
gas pedal slack mod.. Ranger Trucks are known for this.. several Taurus's I've seen have the same issue.
Ford deliberately does this to keep the car slowed down.
gas pedal upwards. you'll see the cable attachment on top.
life the pedal UPwards till it stops. the top part of the pedal will be against the firewall. you will see maybe up to 1/2" of cable sticking out (sometimes more, sometimes less). you need to close that gap! I use cable ties and wrap them around the cable until the slack has been removed. Usually 3 small ones does the trick.
the gas pedal will now be higher than what you're used to. when you romp on the gas, you'll notice the difference.
at full WOT
the butterfly plate will be full horizontil, or closer to it.
Good 'mod', I've done it to all my cars. Ford doesn't do it deliberately to slow their cars down. They de-tune when they want to do that. The cable just gets stretched over all the years of use and abuse.
the cap & rotor, well not much to do with this, I use cap& rotors with brass fittings vs. steel or aluminum. they conduct a sneeze better and don't oxidize or corrode as easily.
You can't have a cap & rotor and a coil-pack ignition at the same time. G3 vulcans have no distributor.
If you're brave, get a dremel out with a grinding wheel & see if you can port out the throttle body hole. more air flow = more HP.
same with the intake manifold.. a port & polish kit is relatively cheap, probably take a couple hours to do and you'll notice a gain instantly.
P&P takes a LONG time to do properly. If you're going through the effort, you want to do it properly. Add the intense cleaning you need to make sure you don't get iron filings and aluminum paste pushed through your engine, and it's not a weekend job. If you're so inclined, go to the junkyard and get spares, P&P those, then the weekend job is swapping them over.
But from the OP's tone, I got the feeling he's looking for cheap, easy things to do to get some pep, not turn it into a weekend racer.