Mods like subframe connectors and other "support" mods is worthwhile as it will keep the chassis stiff and keep it from tearing and such. 5lug conversion with more moderen 4wheel disc brakes will improve performance, drivability, and increase the value.
What I would not do to a vehicle that I am trying to keep prestine:
1. Deletes.
Leave the smog equipment alone. O/R mid-pipe alright but keep the stocker and make it so you can just bolt it back on. Deleting the air pump, termactor system, and EGR system, and especially the electronics around it doesn't do much if anything for prerfrormance but can make it more difficult to sell because some of us have to live where we get our tailends sniffed often.
Leave the A/C system on it, if anythng convert to R134a.
Leave on the P/S and if anything upgrade the alternator as the 2G setup is a borderline fire hazzard and doesn't charge for crap.
Don't do wight reductions, you are taking from the vehicle.
Only upgrade with premium parts and leave everything where it is.
Try to keep the original paint, and if you do repaint, do only a good paint job and do it right, that means no bondo, taken down to the primer at least, reprimed, and quality painted, this includes door jams and such. Mask off anything you don't want sprayed.
Keep it stock.....that way you can be slow and handle like crap.
If it were me, I'd stick with a stock fan and not electric. Until you really get to modding that thing, I don't think you'll notice a power increase and if the fan burns out and you overheat, you're screwed. Just my .02.