What Mods?

Hey guys. Newbie on the forum. I'm looking for direction on what to do to my 00 GT. It's bone stock. 5 speed. It's been my daily driver for almost 17 years now. I've drag raced it. Auto crossed it for a bunch of years. It's now time to get on top of it. It still runs ok, but the motor is tired. It slips out of reverse every once in a while. The motor is getting tired and it's coming up on a refresh. But, since I don't believe in rebuilding a stock motor, what are my options? If I wanted 350+ horsepower to the ground, is 6-7 grand between the motor and trans reasonable? If so. How do I get there? Like I said, the motor needs to be redone. Or am I better off doing a crate motor? I know there are places to get a 03-04 cobra motor for that ballpark. I don't want a nitrous motor. And it will still be my daily driver. I don't really need a step by step, but there are so many options I'm just trying to get a handle on it. Thanks in advance!

Thanks for the response. I'm not necessarily opposed to rebuilding this motor. I'm trying to figure out my options. 300 to the wheels is definitely a fun car, especially a daily driver. If I went that route, I have to figure in downtime for my car. I just got the green light from my wife, the boss, to put the money into the car instead of a new car payment. There are so many options, I'm not sure where to start. Rebuild. Crate. A cobra motor from a wrecked cobra. I am on a budget, but do have a little wiggle room. I'm just not sure what to even expect from my budget yet.