Mountain bike fix

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I just bought an "el cheap-o" mountain bike from a garage sale. My initial intention was to clean it up and get it in top condition, but after my first trail expedition, I knew that the components sucked!
What parts of my bike can I upgrade the easiest and the fastest?
What is the most cost effective way to upgrade my bikes performance?
I posted a similar question at this cool new site:

http://www.answerbag.com/c_view/233_faq/answered

Has anyone else been there? What else has worked for you?

:confused:

Upgrading a bike is usualy not cost effective,either buy a second hand bike with everything on it you want,at less than what you would have spent on the upgrade or use the bucks as a deposite on a new bike.

try bikemagic.co.uk. mountain bike forums lot of people know whats what on there.pretty good.give it a try