More power can over ride crappy gears, but if you swap the gears the more power will be even faster.
Also, typically when you add more power it also raises the peak RPM, which wants more gear, unless you boost the engine with a roots or screw blower for down low boost, but then you would want forged pistons, etc.
Some things can be done to improve power throughout the RPM range, like more compression, a good exhaust, proper tuning with timing and fuel, etc. But these are limited, especially with pump gas. More cubes and boost are the really only "major" things to up the power all the time. You can always add nitrous, that works really well, for short bursts of power at the track, etc. But not for anything other than drag racing, whether it be asphalt, mud, sand, dirt, etc. That can work well, and it's off the rest of the time.
I can help you select parts if you tell me what your goals are, and I can probably get most of them for you.