Is that a R1?
I like your paddle tire choice with the solid across paddles, those are the best. It should already have a metal tranny, so you're set there. It looks like the shocks are supposed to be oil filled, but those plastic ones never hold oil so they might seem like friction shocks.
If it were me, the next thing I would do is go brushless and lipo with it. Or at least run lipo. But if you'd rather keep it stock with the electronics, then I think it's good to go after the shock upgrade.