If you wanted to stay n/a....gears (4.56's), DR's, FULL exhaust, FRPP valvetrain kit, p/p heads, short intake runner, chip/tune, pullies, intake/maf....that should get you around 360-370rwhp......that might only be good for low 12's though.
A very simple solution would be a powercooled vortech V1 kit @ 10psi, with a tune and full exhaust. That would get you near 500rwhp and would be right around $6000. Or you could opt for a cheaper non-cooled kit, and cheaper exhaust setup, and get forged pistons rods, to be safe.
Pretty much a simple vortech kit is the easiest and most efficient way to get into the 11's with your requirements at mind. Even a stock 96-98 Cobra with exhaust, DR's and vortech kit @8+psi should be good for 11's.