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You can get a 70 down to about 3500 without too much work, tires depends on track and weight class. Well, i've never seen one with hydraulics, so I assume you mean the power lift. the power lift comes off easy, though they made a factory cover to go in place of it, a piece of aluminum would be lighter. the pto comes right out, and a piece of aluminum would work well for that too. all you can easily remove on the belt pulley would be the pulley itself and the drive that attaches to the pulley. the gearbox supports the steering box and they did make a support for that with no gearbox, I have never actually seen one. You could make one without too much trouble. as for power, if it runs very smooth now the valves are probably in pretty good shape, but if not so a good healthy tune up, a good valve job, mill out the neck in your intake manifold where the carb bolts on, and with a little bit of screwing around, you can put a 88 carb on it. As for the 88, if it dosen't have the big manifolds on it now, this would be a good time to do so, along with a good carb. as for the head itself, big valves help something called "low lift flow" this is when your valve is just starting to open. This helps torque considerably, while you don't want to go too big with the ports because of the cubic inch and rpm just a bowl blend and smooth up the ports should make a pretty noticeable difference.
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