The first things this car needs are basically survivability mods to address the factory weak points, these are:
- Aftermarket high-flow oil pickup: The stock pickup is restrictive and causes cavitation at high RPMs which is about half the reason these engines have made a reputation for spontaneously lunching themselves. Killer B makes a high-flow pickup. The AVCS synchronization between the two heads will also improve with this mod.
- Oil pan baffle: It's a boxer engine with a plain-jane oil pan so oil has easy access to places it shouldn't go, goes there very easily, and can stay there for a while, this is the other big cause of these engines destroying themselves. An oil pan baffle will fix that. Plenty of options are out there, I went with one from Cosworth.
- Oil cooler: Now that your engine has a good reliable supply of oil, the next issue is that it's going to get that oil roasting hot in anything more than autocross use, even while coolant temps stay nice and stable. You might also want to bump viscosity to 5W30 and of course switch to a synthetic street-performance oil.
- Trans & diff fluid: The factory fluid is not good and needs to be changed quickly, Motul 300 is a good option.
- Temperature-proofing the left inner CV: The exhaust runs right next to this CV, cooking the factory grease until it separates into a runny liquid and some crusty residue. This is what has given these axles a reputation for poor reliability when lowered - it's the decrease in underbody airflow causing the problem rather than the axle angles as some have suspected. Add some insulation/heat shielding to the exhaust where it passes by this joint, and repack the joint with Redline CV-2 high-temp grease. Cusco also makes a heat shield that bolts to the diff here.
- Fixing the fuel starvation issue: The Toyobaru tank can fuel-starve very easily in left-hand turns and increasing fuel flow will only make it worse. Verus makes a drop-in trapdoor for the fuel pump basket that will keep fuel from leaving the basket so quickly. For further improvement you may want to add a second pump to the non-pump side of the tank that will force more fuel into the fuel basket at all times - Phil has done this with his FRS but hasn't given any details, I've been thinking about emailing him to see if he'd spill the beans on this in just the last few days actually.
- High temp brake setup: Standard track-use stuff, you will need high-temp fluid and pads of course, the car doesn't come with them...
Regarding the sway bar issue, this car can definitely use more front anti-roll bias than stock but you may want to consider switching to a much stiffer front bar rather than disconnecting the rear to achieve this, especially if you're on stock-ish suspension (which isn't bad with a lot of front negative camber added).
A performance exhaust and tune fixes the infamous power dip, when you're re-tuning the ECU you should look into altering the radiator fan control tables to get them to switch on at lower temperatures, in stock form the fans are used very conservatively and the engine can even get too toasty in the pits/traffic because of this.