1..What do you expect to achieve when you modify your engine??
Different schools of thought apply here ... For the street I would expect an engine that will run smoother, give snappy throttle response, have quicker acceleration, better shifting and deliver more power to the rear wheel across the power band. The engine will have stock reliability, run on pump gas and require no additional maintenance actions. This can be accomplished by addressing the detail items that did not get done on the assembly line due to time, machining and production costs. Just to name a few examples:
1. Precision valve jobs, professional porting, camshafts that are degreed in.
2. Crankshafts, rods and piston assemblies that are weighed and balanced.
3. Transmission gears undercut.
4. Lightening, polishing or coating select internal components.
5. Fine tuning the ignition timing and the fuel system on a engine dyno.
An engine built correctly with attention to detail will out-perform their production line counterparts. The trick is to pick up where the factory left off and modify the parts that are already paid for. Not a very exciting or winning recipe such as aftermarket big bore kits, cams, carbs and exhaust but it works.