Try not to set goals based on times, atleast at this point. The gearing won't help, so you'll definetly need more power then someone with a 3.06 gearing to achieve the same goals. the stock PCM has an upper limit too, it becomes a bottle-neck quick. I'd say do lots of complimentary mods. Chip, intake and exhaust, 180 stat unless you have a cool running car.
Best way to reduce time is sell the Olds, spend that money ,and hte $1500 on a */Ced car. $1500 into an L27 will put you at or above an L67, but after that you're running out of options.
If you really want to do something cool. Take half of that money, go find some 93-95 heads. Get bigger valves put in, and modify them to accept a higher ratio Small block chevy rocker.
That'll give you a lot. Jeffrey 10x4 did this.
'06 Vee Dub GTI 2 door Tornado Red
- 2.0 Turbocharged, Intercooled, Direct Injected, 6 Speed DSG, Underbody Aero, 17" Classix
- Moonroof, Bi-Xenon headlamps, Interlagos Plaid Sport Seats, 6 Disc In-dash, iPod integration, GTI Monster Mats (winter)
'93 Bonneville SE Purple Pearl H4U package - picked up June 23, 2003, Traded-in June 28, 2007...