Got my tax refund this morning and finally dropped the hammer on this purchase!
My car is bone stock at this time with only K&N filters. So.... to start off, I got the following:

NW Dual CAI
ASP 178mm Pulley
NW Pulley Saver Kit
NW Intercooler Coolant Isolation Kit
NGK Set of Laser Iridium Spark Plugs
Magnecor Spark Plug Wires

...and I have already purchased my tune so I am ready to get my hands greasy! All i need now is some beer and pizza for the garage when the parts arrive and you will never see a happier owner!

Thanks Rob@Needswings and Jerry@Eurocharged for "Phase 1" heh heh heh...

Any suggestions for Phase 2?

I was thinking NW Super Cooler (need grille mod since it's a SLK) and intake manifolds, big brake upgrade to handle the new power?
I'd love to hear your thoughts.

Thanks everyone on this forum for all your informative posts that made my decision making possible.