I guess it really depends on what you were gonna get out of the trip to NY whether spending coin on the car is a better idea. If it was a simple tourism trip to "see the sights", then I'd say you're better off spending the coin on the car. If it was an opportunity to spend generous amounts of time at the tons of great museums, or see a great performance at Carnegie or Lincoln Center (especially a great opera), or some other great cultural activity, then I'd say you probably should've gone, chaperones or not.
Now as for the car, I wonder how old the motor is in the car? I'm hesitant to put a performance cam in a motor that's got a bunch of mileage on it. Also, keep in mind the potential extra costs of pushrods, new springs, new lifters, and accidentals/incidentals (timing chain replacement? water pump replacement? etc.). Oh, and dont' forget the importance of checking piston to valve clearance which means removing the heads. This could get expensive and time consuming.
As for the
suspension, make sure you make it safe (i.e. rebuild/replace worn stuff) before doing upgrades. Then prioritize your goals. This will save you money and work.
Just to be clear, I'm not trying to discourage you, but rather just make sure you keep your eyes open about this. The cam swap could easily eat up most of that $700, so just do your planning and the math first.
Good luck!