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I have a long history with the 200 and its bigger cousin the 250. BTW: The 200 to 250 swap is more complicated than a 200 to V8 swap.

First make sure all maintenance and safety items are up to date. Brakes, including all 3 brake hoses.

Your best bang for the buck is a ebay stainless steel header and a single 2 1/4 or dual 2" exhaust. Do this mod first.

You have a spark-o-matic carb and a load-o-matic distributor. Both are poor performers, but you must have both or neither.

Install a 68 200 distributor and a 2 into 1 carb adapter and a Weber 32/36 carb. Vintage Inlines has the carb and adapter. RockAuto has the distributor.

Exhaust and carb will run you $1000-1200 depending on how much the exhaust costs.

Thats the best you can do without removing the head. The exhaust will add a few hp and the carb will tune much better and give you a smoother idle and acceleration with no flat spots or hesitation.

Down the road look for a C9 or a D8 head. The D8 is preferable and easier to find. They were on Fairmonts, Granadas and Fox Mustangs for a couple years.

The key to making theses sixes perform is keeping them tuned and light weight. If you start adding a bunch of weight, the steering, stopping and performance goes right in the toilet.
 

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Ive had a 71 Maverick Grabber and a 65 Mustang with 200/3 speeds. They are fun to drive. Light, responsive steering, good acceleration with 3.00 or 3.25 gears and probably more so with 3.55s and a 5 speed.
 
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