My first warning to you is about the type of air/fuel ratio meter you are going to use.
DO NOT USE IT!
I looked at dawesdevices.com and went over their aif/fuel meter and it is based on a "narrow band" o2 sensor. These sensors are not analog sensors. They are essential binary. It's voltage will tell you wether you are rich or lean and other than that will tell you almost nothing. A true "wide band" o2 sensor has a voltage that varries with o2 air/fuel ratio burned, usually from 0-5v.
With a narrow band you can tell if you have 14.7 or not (the switching point) and nothing else. This is why they are commonly used, because they are good for cruising and idling. Which is emmissions territory.
I recommend you grab a few books and do some more research on turbo charging. What you want is doable, but it will have to be done right because turbos are very capable of destroying engines.
I think the rochester will have to do. Wether you blow thru or draw thru i don't think it has the capacity to supply that much fuel plus enrichment. But I'm not sure on this.
The oil has to be returned to the pan. Anywhere is good so long as it is NOT submerged by the oil in the pan.
The constant load makes a difference in approach. You have a constant supply of cool water and that is PERFECT for air/water intercooling. 8lbs of boost is a fair bit for continuous duty. Have you considered something more like 4 or 5 and excellent intercooling? This would probably yield the same power but with less strain on the engine. Better all around really.
