4.6 2v Budget Performance Rebuild

Is $1700 the total you have to spend, or what you can spend after the lower end rebuild? Since it is a mild performance build, should we assume daily driver/street car? How old is the timing chain set and guides? Automatic or 5 speed? What is the rear gear ratio? Have you done any suspension work?

Ok. There are performance improvements to be had by getting the available power to the pavement more efficiently, such as:

3.73 ring and pinion
EDIT: you'll need to recalibrate the speedometer with a gear change, so plan on a handheld tuner with that capability or a speedometer chip/module
Rear lower control arms with poly and/or spherical bushings.
Rear upper lower control arms with rubber bushings
New shifter

You can modify the OEM air intake in lieu of purchasing a CAI (free)

Also consider at 90k miles you may need front LCA bushing and/or balljoints, maybe brakes. If the exhaust system is in good shape, leave it...if not, a catback system. What about struts and shocks? It is probably as good a time as any to upgrade during corrective/preventive maintenance.

Other chassis mods that have been popular are subframe connectors, lowering springs, and if you are heavy into cornering bigger sway bars and front/rear shock tower braces.

After you feel good about the chassis/suspension/brakes, you could spend the rest on more engine mods, but I think you will find the cams and 3.73 will make a big change in the personality of the car.