Exhaust Systems

Cat-Back Exhaust System:
A bigger exhaust system will give your exhaust a quicker chance to escape your engine, resulting in more airflow and improved power.
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Exhaust Manifolds/Headers:
The first step in getting your exhaust out of the system, Aftermarket headers are less restrictive and more refined than stock, and will slightly improve your engines power.
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Mufflers:
Although yielding little performance gains, aftermarket mufflers are able to give your car the exhaust tone that gets you noticed.
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Engine Modifications

Camshafts:
By giving your engine more aggressive valve timing,  You will allow be able to flow more air through your engine and therefore produce more power. 
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Crankshafts:
By increasing the distance the piston moves with each stroke, you are increasing the displacement of you engine and therefore giving you more power.
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Pistons:
When you start pushing serious power, particularly with a power adder, you are putting your pistons under a lot of stress. Aftermarket forged pistons could save you a lot of headaches.
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Ported Intakes:
The stock castings on the intakes can lead to pretty rough runners on your intakes.  Ported intakes have their openings smoothed, and enlarged to let more air flow.
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Ported Heads:
By enlarging and smoothing channels in your head, more air will flow through the head faster.
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Roller Rockers:
Aftermarket roller rockers allow your engine to operate it's valve train far more efficiently, freeing up a few horsepower.
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Electronics

ECU:
In stock form, the main computer control system (the ECU), is tuned more for fuel economy than performance.  By getting a re-tuned ECU, you can have many variables adjusted in your engine to get much better performance.
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Ignition:
A high quality ignition will be able to deliver more precise electronic charges, resulting in both improved gas mileage and an increase in horsepower.
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Drivetrain

Short Throw Shifter:
The quicker you can shift, the quicker you can accelerate.  A short throw shifter shortens the distance you have to move the shifter to change gears, therefore speeding up your shift speed.
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Aluminum Driveshaft:
A lighter driveshaft will decrease the amount of rotational weight on your engine, and will allow the power to get to the wheels better.
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Rear End Gears:
Changing the time the wheels turn per drive shaft rotation, new gears will allow for much quick acceleration, but it will hurt your top speed and gas mileage.
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Traction Lock:
By being able to switch power between the rear wheels, a t-lock helps your car to maintain its stability around corners and will give you better traction overall.
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Fuel

Fuel Injectors:
When your engine starts making more power, you're going to need extra fuel to feed it.  Larger fuel injectors will give the engine what it wants.
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Fuel Pump:
Similar to the needs of fuel injectors, yet the fuel pump supplies the fuel from the tank to the injectors.  Is usually needed along with injectors.
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Power Adders

Supercharger Kits:
As with any member of the power adder family, a supercharger can make you real power real fast.  If you have the money, it could be well worth your time.
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  Intercoolers:
Compressed air gets really hot.  Superchargers compress air. Cold air makes more power.  Need a way to solve this conflict?  Get an intercooler.

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Pulleys:
A smaller pulley will allow the supercharger to spin faster, thus creating increased boost, thus creating more power.

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Turbocharger Kits:
A turbocharger is similar to a turbocharger, yet has a different means of obtaining its power source.  Large gains are still to be expected with a turbo.
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  Blow Off Valve:
A blow off valve can save your engine if your pushing lots of boost by venting excess flow away when its not needed.

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Boost Controller:
A boost controller will allow you to control the boost level of your turbo from the drivers seat, making it very easy to increase boost levels.

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Nitrous Oxide Systems:
Nitrous oxide is probably the best bang for your buck there is.  A kit costs only in the $500 range, but can provide in excess of 100 horsepower.
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  Various Accessories:
There are a number of accessories available to help out your nitrous package from bottle warmers to remote valve openers to larger bottles.

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Air Induction

Cold Air Intake:
Its a known fact that colder air is denser.  Therefore the colder the air in your engine: the more air, and therefore more power.
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Air Filter:
If you're looking for an easy way to get more in, you can simply replace the air filter.  A high-flow reusable filter is good for a couple horsepower, and since it lasts forever, saves you money.
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Mass Air Flow Sensor:
A new MAF will allow more air to pass through and essentially takes the idea of the cold air intake one step further.
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Suspension

Lowering Springs:
The stock mustang sits like a 4x4.  Dropping your car an inch or two will greatly help the overall look and will help you stick through turns as well.
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Caster / Camber Kits:
If you lower your car a fair amount, you may need caster/camber plates to get a proper aligment.  These kits give you much more control, saving you tire wear and gaining handling.
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Control Arms:
Control arms provide a way of strengthening up your suspension, allowing you to improve both your acceleration and handling.
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Strut Tower Braces:
A strut tower brace will strengthen up the front of your car, giving you improved handling and steering response.
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Subframe Connectors:
Subframe connectors provide another way to strengthen up your chasis, giving you improved control of your car.
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Sway Bars:
A front or rear sway bar will improve your cars stability trough curves, greatly reducing body roll.
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Miscellaneous

Underdrive Pulley:
Components like air conditioning can take a lot of power away from your engine.  Underdrive pulleys are a simple way to route some of that lost power back to the engine to give you more power at the wheels.
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