If you want to retain all the original engine components such as intake manifold and cams, youll want to run the forced induction scenario. If you dont mind swapping the intake manifold and cams youll pick up some really good power. But I feel if you go through the hassle of swapping cams you may as well swap to a head thatll benefit more power to your original short block.
Your cars original engine is referred to as a Non performance improved(NPI) engine. The 99-up mustangs are referred to as performance improved(PI). Some things to look at with your original engine, start with the intake manifold. The factory npi manifold was all plastic including the water cross over located directly behind the alternator. This plastic crossover will fail by cracking and leaking really bad. Early pi manifolds were all plastic as well. The pi manifold eventually revised with an aluminum crossover that doesnt fail. Aftermarket manifolds also have aluminum crossovers, but the manifold design chokes the engine out terribly. The best design manifold is the stock aluminum crossover plastic PI manifold and it offers the most potential for horsepower while being relatively stock. There exists all aluminum manifolds from the aftermarket world that offer horsepower potential and can be found forsale through marketplaces and swap meets. Ford made a Bullitt version 2valve that came with an all aluminum manifold that can be found forsale and will bolt on. Edelbrock currently makes new manifolds that offer the most hp potential, but this intake is stepping away from factory setup.
PI heads on a NPI shortblock offers a bump in compression. Add the PI cams along with the pi manifold ontop of your npi shortblock is supposedly a 40 hp increase. Not shabby for stock parts. Be advised tho, not all factory parts are as simple as 2 versions, NPI or PI, There are differences with each version and knowing the differences will maximize your efforts. Just be sure to come here with your questions and ideas.
On that last note, your engine can perform well with the correct components. Can 150hp be extracted from what you have?... no. You will need to swap components around.