Generally, V8 suspension parts will work on your 2.3. In fact, even a lof of the 94-04 stuff will work too.
The 2.3 got different spindles brakes and struts. This means the V8 struts won't fit on your 2.3. However, I VERY highly recommend you get some 87-93 5.0 brakes to swap on, including the spindle, disks, calipers and struts. It is simple to do and greatly improves your braking.
Beyond that, check your bushings and replace as needed. Add the V8 sway bars and the car will feel a lot tighter with less body roll. I ran 99+ GT springs, but had to trim them to keep the car from sitting to high. They worked well and gave me a stiff ride with less body roll.
If you want to spend as little money as possible, new shocks/struts and V8 sway bars will make things feel a lot better. Ohh, check the tie rod ends to see if they are loose too.