While boost will make more power, enough boost to beat your pop's GS (if it is "warmed up" at all in the engine department) will take a dedicated build of the engine (boost specific) and drivetrain to make them all survive.
Neat goal to be sure, but you'll have to work that way in increments (ie, lighten the car, better gear and posi, beter trans, solidly built longblock) if it's to be any kind of "budget" build. (yeah, I hated that advice too when I was your age )
)
