Dear Peter,
Assuming that the engine is stock except for the intake and the carb and assuming that you want basic reliable upgrade while the engine is out, then I would suggest:
1) new valves as the stock one were two piece
2) New timing set and remove the old plastic chain
3) inspect the camshaft and the bearings and replace if needed.
4) you might consider MPG Intake Port plates for a minor splurge improvement.
Given the priorities of budget and basic upgrades, I think that covers things.
Regards, Chuck Engles
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