My initial thought is save your money and buy a better engine. CHP, DSS, etc will build you a superior engine to the FRPP one you're looking at, for a very comparable price. You could probably do a stroker for the $4300 suggested retail that FRPP wants for that engine, and still end up with better than the stock bottom end with some GT40 heads on top that FRPP is selling. If you're dead set on the BBK intake, do a quick search on it here and I bet you'll find some rather interesting (possibly disappointing) reviews of it. 69Clark over on the 94-95 side of this site had one. He's now running a Cartech intake I believe after some PCV issues that BBK is aware of, but seemed to have no fix for. Check out this thread if you want to hear more issues. It's currently the top thread on the 5.0 Tech page as I type this.
You could also save yourself some money by keeping your stock distributor. The MSD unit is definitely nice and shiny, but probably a waste. I have no personal experience with them, but I've heard of the PIP failing in them after short run times, and swapping back to a factory distributor solved the problem. The factory distributor will suffice, just pick up a better coil if you're concerned about ignition. The Venom 400 would definitely be a waste, in my opinion. Buy a TwEECer or PMS and tune it right instead of using a band-aid product. The TwEECer allows you to run different tunes with the flick of a switch (really, the turn of a knob) and will allow you to benefit from solving any drivability issues that the Venom won't by properly tuning your combo. By the way, welcome to :SNSign: