bamaredwingfan

I have found an 88 thunderbird that is in great condition body wise an interior wise. The car has the 3.8 v6 motor in, an is in good running shape. The car has a short somewhere in the wiring system that causes the battery to drain fairly fast. My question is, can this car be made into a fairly good hotrod? I can get the car for 200 dollars from my cousin's dad. What would everyone suggest in the way of what i can do for x amount of money to make the car fairly fast. The car will not be my primary transportation, just a hobby to play with in my spare time. With that being said, im open to almost anything to try on the car. I also have the following extra parts laying around at my disposal.
1. 650 holley double pumper carb
2. Hooker equal length headers for 87-93 mustang GT
3. Factory mufflers from my 99 mustang GT

Does anyone have any suggestions as to what might be causing the short? I don't know if the car had the ignition recall done on it or not, but that would be the first place i would look i assume. I haven't went an picked up the car yet, i will go an pick it up sometime in the next couple of weeks. Im thinking that the car has a 4 bolt lug pattern, at what level of HP should i consider going to 5 lug? If i do go with Injection, what years should i be trying to find as far as donor wise for motor an electronic an computer? If i do go FI will the wiring harness have to be changed from front to back? Is that a real major task to accomplish?