I agree, do both. My setup is '98 200 Fredette ported, rad valve, RD carb mod, FMF rev & TCII. Here's the order of my upgrades.
1. The bike came with the torque pipe and TCII, I replaced the torque with the Rev.
2. Added the rad valve
3. Got it ported
Lastly, the carb mod. Each piece contributes to the whole. I could feel the difference at each step. I just always wanted more. Just when I "thought" the bike was ripping, I'd do another upgrade and wow, hold on tight. If you have the $$$ for all of it, than go for it. In hind sight, if I had to only pick two of the above mods, it would be the pipe and the carb mod. Don't get me wrong, the rad valve and the porting pushes the rpm range way on up there extending the power band quite a bit. I don't ever regret getting them done.
Hope this helps :)