Put some disc brakes on it FIRST, make it stop, and put spacer drums on the back...
then-
Shocks on the front- but not too hard- I run Pedders..
Competition hydro REAR bumpstop kit ($72 approx at Karcraft)- don't fit the comp front ones- they sit too high unless you are going rallying..
Shave 5mm or so off the front bumpstops. Set the height at 2-3 fingers under front guards.
1* neg camber on the rear.
Tyres- Yoko A008s are hard to beat. A032Rs wear too quick for the road and need lots of neg camber to work better on the track.
Get some alloy wheels- don't mess with wide steelies. Too heavy and they're never round, either.
I like my Mini offset Contessas..
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DrMini- 1970 wasaMatic 1360, Mk1S crank, 86.6HP (ATW) =~125 @ crank, 45 Dellorto (38 chokes), RE282 sprint cam, 1.5 rockers, 11.0:1 C/R.