The biggest thing with the block is to get it machined for MLS headgaskets, that with studs basically fixes the 3.8s primary intrinsic faults to make it an ideal motor for boost. For me my strategy would be 99+ splitport heads, intake(or at least the lower with a custom plenum for the upper), stock exhaust manifolds(from anything that fits right really) flipped forward to feed the turbos and for me only out of familiarity a 96-97 OBD II computer swap with SCT PRP and a Xcal flasher. The biggest tuning hurdles is finding someone/someplace competent. I don't recommend DIY with boost. I've been messing with tuning for a decade+ and I'd still never trust myself tuning power adders, I know the fundamentals but the margin for error is just that narrow before piston meltage if the A/F is not right on the money.
My thing with the lights is the housings essentially expand the output of the bulb where the lenses then scatter the light appropriately where it needs to go for you and others to see, 100% black housings then would severely limit that in my mind. Later headlights that used clear lenses with housings designed to scatter the light(as 96-97 Tbirds use) are a different story, you can black out the surrounding areas no problem, and Ford themselves took advantage of that on 01-04 Mustangs and Marauders but that was with retention of the chrome refraction portion of housing being there. I think it looks really cool and unique like that but its not something I'd risk a potential accident over, I'd check outside the city with a buddy to see both how visible they are in car and out of car.