Gary is finally going to feel the need for suspension tuning, just the simple fact that I'm sure your stuff is worn out, did you say 160k miles? Seriously. Lot's of people have done well with a fairly stock suspension, my car running 10s had the stock shocks and springs on it. However while I got it to track straight the suspension did not, and I wouldn't have considered it very consistant. Wagner's car is doing the same shit mine did, and hopefully we can work that out this year.
There are many options out there, but since you will be heavily drag racing it I'd lean towards a Viking set-up. For the money you get adjustability, and quality parts. You may consider a short torque arm, should work pretty well at the level I suspect you'll be. I also think an airbag in the right rear spring is a very good idea if not running a huge rear sway bar or coilovers. Enough sway bar to combat body roll isn't worth it to me on a street strip car given that an airbag will do the same thing.
Do some reading, lots of people have made these cars fast so picking a good starting point should be easy. Just remember that every car is a little different, and different power levels, different tires, and different application of power all require a little different tuning. At the very least error on the side of tunability rather then something that you have to replace if it doesn't do what you want. Keep in mind that most of the info you find on 4th gen f-bodies are guys running power adders in a street car that all seem to run well on stock suspension (at first glance anyway), or a lot of marketing fluff that most keyboard warriors take as gospel. I'm no expert in track tuning but if you need some help with geometry and alignment let me know.