the stock shocks and struts are ok... but id they're older and gettinfg towards the end of their lifetime, then you might as well replace them. Your alignment should be fine... although if you replace your balljoints make sure you replace the upper fronts with the ones from MOOG w/ the camber adjustments. You'll love the ride once the springs are installed... so much sportier!
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1986 GT 4spd> Suspension Techniques Springs, Poly Bushings, Bosal Brospeed 4.5" Exhaust Tips, Cross Drilled Rotors