If you really want a Targa to handle well, there is some extra chassis bracing you can do. If you search under Tyson Schmidt on Pelican you can see what he did to his old Cabrio ("Scruffy"), otherwise its just the same as a coupe IMHO.
The problem in doing it progressively is that you have to keep pulling things apart and putting them back together which is either repeated cost or hassle if you do it yourself. I would (in hindsight) save pennies and do it all in one go. The key decision though is whether to stick to std torsion bars as its the rear torsion bars in particular that hke up the cost/difficulty. Although it adds to cost, I think the rear springplate bushings should be replaced in cars of our vintage. They are key to the rear toe and camber settings and unless there is a stable base to work from, you cannot get stable predictable handling from the rear end. If you replace the bushing, then this is the time to do rear torsion bars. Otherwise you have to do all the ride height, corner weights, alignment again. Changing to gas pressure Bilsteins will also affect ride height a little and can necessitate another round of height, weights and alignment so ideally do that at the same time also.
I think Gary will have a great road car set-up, but if I was doing a car only for the road I would use softer shocks. I like the Koni reds but the OE Boge are also fine. Stiffer shocks are great for body control on the track but do not make a comfortable touring car. I like the polybronze bushings for precise location and ride comfort. The rest kind of depends on budget and preference. If you like the handling balance, leave the spring rates and roll bar rates alone. If you think it understeers then increase the size of the rear anti-roll bar.
Brakes you can do in steps - pads and fluid, discs, hoses - see how it goes and stop if you are happy. I think 3.2s have fantastic brakes for the road, they just lack capacity for track work.
What else? Get bigger wheels? better tyres?
RB