The 'Luke warm' spitfire/herald engine is perfectly reliable - just keep up with the servicing and you will be fine. I'd recomend oil changes
every 3000 miles.
The 'Bolt ons' required are basically HS4 (twin), Tubular manifold (4-2-1), Fast Road Cam, Free Flow filters with cold air ducting.
The 'next steps' would be skimmed and ported head with enlarged valves, bench flowed carbs (SUs) - or weber/s. Then electric fuel pump, water
pump, fan. This can get you below 8 seconds, but it would be wise at this stage to atart uprating the drive train to cope with this - e.g.
Differential flanges (big), propshafts flanges (big), four synchro gearbox, etc.
To go further you'll need engine lightening, matched manifolds, Higher spec cam.
How deep are your pockets?
NiG
http://www.niginthecar.net