Start by making sure the truck has good compression before throwing a bunch of parts at it. These trucks are old, and were built in an era when people worked the piss out of their trucks instead of just using them for a lifestyle image. A lot of the engines are simply worn out, and it isn't going to start well with all the parts in the world thrown at it. I forget what the spec for IDIs is, but with 21.5:1 compression you should be seeing over 400PSI on a healthy engine.
Assuming your compression checks out, make sure you have healthy batteries (I would suggest ones with 1,000+ cranking amps) and check the condition of all your battery cables and terminal connections. A gear reduction starter like JR4X mentioned is a huge upgrade over the original direct drive starters. Make sure the battery cables weren't replace with crappy thin gauge universal cables.
You can use a multimeter to diagnose your glow plug system. Glow plugs should be about 1-1.5 ohms if I remember correctly, but what you are really looking for is either open or short circuits. Replace all the plugs a a set if any are burned out and use only Motorcraft plugs. All the aftermarket plugs are garbage and known to swell and either get stuck or break off in the heads, and then your simple glow plug job turns into a head job. Your truck should have the later solid state glow plug relay which is a big upgrade over the old head-mounted relays that burned out all the time. Use the multimeter to verify it is getting voltage to each of the glow plugs and that it is cycling correctly. Some times they fail on and fry all the glow plugs. If it needs to be replaced, use Motorcraft only. DO NOT use starter fluid on an engine with a functioning glow plug system.
If all that checks out, the fuel lines are susceptable to cracking and allowing air to get into the fuel system which reeks havoc trying to get these trucks started, but that would affect starts in warmer weather after sitting as well. If it hasn't been done recently, it is advisable to replace all the rubber fuel lines and injector return lines since they are probably old and cracked/leaking. There is actually an air bleed valve next to the fuel filter to help get air out of the system. I would highly recommend converting to an electric fuel pump.
Like any diesel though, I would plug in a block heater before starting the truck if it has been sitting for a while in sub 10° weather. These trucks do not have fuel heaters like the Powerstrokes do, so I imagine fuel gelling is even more of an issue, but I've never experienced it.
As for performance,
R&D IDI Performance is the biggest name in IDI performance and has built multiple 400+ RWHP trucks. The owner used to post on Ford Truck Enthusiasts and Youtube quite a bit 10 years ago, but he is still in business selling parts. I've never read of a truck dynoing over 300HP that was using some one elses parts; namely injection pumps since that is the biggest horsepower block on these engines.