In my experience the essential changes are similar to what has already been said...
I have changed :
Front shock tower to the Cream CF one with the alloy ball stud holders. This is the best option in my opinion as it enables you to keep the ball studs in their original position.
Rear shock tower to Akula CF version.
Steering rack to Akula CF version.
Ball studs to Losi ones. I have Losi 22 cups, studs and turnbuckles on the front and haven't had any problems since. I've left the kit ones on the back, but up front they were hopeless. They came off far too regularly and also used to slip on the turnbuckles on impact so the camber was forever ending up way out by the end of a race.
Since I have made these changes I haven't had any further problems.