Are you concerned about moving between classes?? Typically, any sort of suspension change in SCCA or NCCC will move you out of a stock class. I'm not up on CCCC rules if you run in that Association, but modding the suspension will get you into some sort of modified class jsut about anywhere. With SCCA, you could install a Z51 suspension, but you have to add everything to your car that came with Z51 to remain in a stock class.
What is the overall condition of the suspension now and what is the mileage on the car? Are things like ball joints, tie rod ends and bushings original? One way to improve the car's handling is to replace these components with new ones.
Tires will be a big help and you can do this relatively cheaply. I run Kumho Escta MX tires for cold days and wet weather for autocross and even for track days. You can get them thru the Tire Rack in 275/40-ZR17 and they do ship to Canada. If you have friends in the States, have them shipped there and get them installed locally) no customs duty, no GST, no extras to you.
If you want to start modding, go with larger sway bars and poly bushing for them. Go with the Z51 sizes. Another mod you can do is the Bilstein Z51-specific shock or if you have money to spend, look at the Koni adjustables, or Penske adjustables.
Also get a Camber Brace from R-D Racing
http://www.r-dracing.com/Camber-brace.htm This device is a big help to stiffen the front frame.
This page
http://www.vbandp.com/instructions/htmlinstruct/align.htm will give you a good start for alignment specs. But when you go to do an alingment, it's important to have the suspension components as tight as possible. This is where replacing any worn stuff comes in.
Another upgrade you can do is a Z51 steering rack. It offers quicker steering and is a bolt-in. The original Z51 racks came with a PS cooler that is unfortunately no longer available from GM, but you can get an aftermarket cooler from the typical companies that have tranny coolers. I use RedLine power steering synthetic fluid in my 87 and I don't have any issues with hot fluids/high rpm during autocross or track days.
Vette Brakes has some good suspension packages for the later C4's including a version of the suspension used on the Corvette Challenge cars. They are pricey, but VB&P does have good stuff.