Best way to proceed with improving up 427 Windsor street setup

[Ace23]

10-30-2015 Update:
Haven't touched the car since last Sunday but we got in about 3 hours of solid cleaning and it is looking much better underneath. I have ordered stainless steel brake lines and it looks like I will be needing to replace the fuel system. We have not removed the pump but from the looks of it the fuel pump is a Carter unit that flows 30GPH.....there wasn't even a fuel filter on the back side of the pump. Plan is to install a new pump, filters and line. The new valve cover gaskets and fabricated valve covers arrived yesterday and now we are waiting on the alternator. I don't think we are too far out from having it back on the ground and able to go take a test drive. If the car still feels really down on power we agreed to go ahead and pull the motor but did not want to do this without updating all the minor issue we have been finding. Have some additional scrubbing to do and will keep everyone updated. Will remember to start taking some pictures as well.