Ok to move to a R154 you need... well here... look at this link, scroll down a bit and it'll give you a list of what you need.
http://4cefed.com/conversion.html
Also It looks like your car has the sports package due to the headlight washers. So most likely you already have a LSD. And since your car is a 88 or older I'm assuming, again from the picture of the front end having the full grill, it's probably a 3.93 rear end. 89+ turbo's <not sure on the N/A's> I think came with the 3.73.
From what I've read here and on other forums, the W58 manual tranny can hold up to 300-350 RWHP if you're nice to it. So unless you're planning on modding your car a bunch or swapping to a turbo the R154 isn't the best place to spend your money.