I'm not going to race it. Just am not real impressed with stock handling.
First, lets qualify unimpressed. Is it better or worse than a new Honda? It is not difficult to get an E body to pull .85 lateral acceleration which is where most modern cars will do. You can get them up to .95-1 g, but it takes a lot more work than bolting on a bunch of parts.
Do you know what your alignment is? Way too many cars are built then taken to a shop where they pull up the 35 year old specs for skinny bias ply tires and bring it into "spec." First thing I'd suggest is to drop the nose an inch or two. Then take it to a reputable local shop who can put -.5 to -1 degree camber with as much caster as possible. Set the toe at 1/16 in. The difference should be dramatic.
Here's what I've done/am doing; urethane strut rod bushings, bumped the torsion bars up to .960, stock rear sway bar, bumped front sway bar up to 1 inch, and welded stiffening plates unto lower control arms. I don't have much $ in the mods so far. I also have no idea what I'm doing, just a combo of things I've read from people on this forum. The engine was already built when I decided to toy with the other stuff, and moving the battery didn't seem like a big deal either. That got me to thinking about weight distribution. Just curious if that would have any effect on handling
Weight distribution is certainly a part of, by wheel rates are a bigger part in a street car.
Weight wise, it tough to guess. I've seen some pretty portly E bodies in my time, but I've also seen some that are reasonably light. 3800 is probably a bit high. My 74 with a/c and lots of other junk a 70 doesn't have came in around 3600 before I starting digging in to it. Couldn't quote the front to rear bias though.