By steel exhaust manifold do you mean a tubular steel header like this?
http://www.ipdusa.com/products/7011/108024-exhaust-header-ceramic-coated-fi-weber
If so, it looks like you have the dual down pipe exhaust manifold on your engine which is probably as good as it gets unless you have a full race engine. I suggest sticking with the existing manifold.
Do you have air filters for the carburettors? If not, you should get some. Driving around without air filters is a sure path to a long term decrease in engine performance due to accelerated piston / ring / cylinder wear.
There is probably not a lot you can do by modifying just the head. It all needs to be matched up (longer duration / high lift cams need to be tied to modifications to the valves, ports and fuel system to support increased air flow). If the increased air flow is associated with higher engine speeds then you need to start spending money on the engine block. This would include decking the block to set and match the clearance between the pistons and the head so that you have a proper quench zone in the cylinder. If you are pushing higher engine speeds you might need to consider different pistons, engine balancing ...... Modifying a B20 to make significantly more horsepower gets really, really, really expensive.
If the head is coming off for some reason, do a valve job to clean up the seats and valves. You could consider having the valve seats cut with multiple angles which might result in some small flow improvement and should be minimal additional cost. The valve guides could be replaced with new bronze valve guides and if you can find somebody who knows what they are doing, they could be shaped to reduce the flow restriction. If the engine is original and Finland has made the move to unleaded gas (I would expect so), have a machine shop install inserts on the exhaust valve seats to improve durability. Unless you make the move to a higher lift camshaft, larger valves or a camshaft that increases the engine speed, resist the urge to install double valve springs. They just increase parasitic losses in the engine. Also, unless you know what you are doing, resist the urge to modify the intake and exhaust ports. The exhaust ports on the B20 may not be great; but, just grinding out more is probably going to make things worse.
When the head is off, you should pull the lifters and examine them. Check for spalling on the contact surface with the camshaft. Volvo camshafts and lifters are notorious for wear at the lifter / cam interface. If there is spalling, both the lifters and the camshaft should be sent to the garbage bin! There are replacement performance lifter / pushrod kits offered by a bunch of different vendors which you can put in with your new camshaft. At that point, whether you go with a stock replacement or a different cam is your choice. I have no advice on alternate camshafts (experimenting with different cams gets expensive and time consuming, I prefer to drive my car!).
Its easier to do things that restore performance and perhaps improve reliability. Not so easy to increase performance. The low cost way to improve performance with a Volvo would be to sell the 144 and buy a used turbo Volvo 850!