Optimizing your advance curve, and converting over to an electronic ignition is alot easier and cheaper. I'd do that first.
I'd probably go with the ignition. It will be cheaper, and it would be something I could do myself (as opposed to bolting on something someone else did, with no fun in it for me). Also, without work to the top end, headers won't add a whole lot. Neither will ignition, but you'll get some performance, improved reliability, and and better drivability.
Headers, but I'm just greedy for power. The headers would give more than the ignition. Ignition would be my next upgrade, though.
I vote for ignition. You will probably need custom headers in your Lincoln, so I think ignition tuning will be your best bang for the buck (simply because headers will be a lot more bucks). -Bob Cunningham
with the ignition what would be a really good setup for it. looking to keep it under 250. with the headers i priced them at being around 300 for the supplies. then from there i'd put in some hours on them. it falls off around 4800 rpms and it is either exhaust or ignition related. everything else checks out ok. i'll eventually do both, its just which one to do first. Thanks Jeramie