I think a turbo is the way to go but I have a machine shop at my finger tips. The next option would be a centrifgul blower/super charger w/blow though carb. Guy's have been doing this setup v8s for years and have good results. The bottom would be good rods and SRP pistons. The cam would be a mechincal with good valve train componets. The head would be a Kirby lump port (dont skimp here!) The igntion would be MSD with crank trigger w/boost retard. The blower and carb are you'r choice. The trans would be a turbo 350 w/3500 convertor with 3.70 gears and 26x10 rear tires. Plus, a 50-75 hp shot of nitrous. You have the volume of air with the blower now you have the quality of air with the nitrous.

This is a basic setup I think would be pretty easy to build and would be a nasty hot rod on the street.

Steven