Snowman,,, You seem to be switching back & forth, I do not know if you are talking about just slapping an engine together (re-ring & re-bearing an engine) slap a turbo on & see what it can do or semi building a purpose built new turbo engine? New forged pistons, reusing cast used pistons???
I would definately run a new turbo designed camshaft. Stock cam is anemic.
Since this would be a daily driver I would not make it a high RPM high HP engine for day to day driving. I'm talking 5000-5500 tops RPM.
You can just run the stock head bolts & a good head gasket for low boost. ARP head studs will clamp down better than stock head bolts & less likely to push out a head gasket,, but if you detonate anything can happen, even w/head studs, burn a piston, blow a head gasket, break a conecting rod,put a hole in the block etc.
Minimun needed is @ least ARP rod bolts, resize the rods, side grind/polish connecting rods, magnafluxed,& shot peened. Not in that order.
You could re-ring & bearing the engine,but I still say resize rods, new ARP rod bolts polish & shot peen rods.
Cast pistons could take 10 psi of boost pressure AS LONG AS THE ENGINE DOES NOT DETONATE!
I have said it before, you cannot always hear detonation. That is why I recommend one of these, http://www.jandssafeguard.com/ you install a knock sensor & it will retard the timing on all the cylinders or retard the timing for the cyl that is knocking.(selectable) So just a recount, I do not know your intensions,new pistons, reuse all old parts or???
If you just want to get a cheap$$ turbo engine going (different longblock I assume?)
Minimum things to do (on the cheap $$$),,,, Re-ring & bearings. ARP rod bolts side grind/polish & shot peen rods,magnafluxed.
New turbo camshaft,new push rods, new lifters, new cam gear, new crank gear, larger 1.94" intake valve 160"exhaust valves installed,mild porting & a great valve job, new Felpro headgasket P.N.1025 IIRC? Profile/port/grind intake port boss, make them narrow with out breaking through where the head bolts go through, (winged shape,like an airfoil) No lumps needed. The turbo is going to force your air/fuel mixture into your engine.
I can see a low buck $$ engine like that making 300-400+ HP to the wheels, if tuned correctly.
You can get away with more pinging w/forged pistons as compared to cast pistons,, but forged pistons can easily be destroyed also if it's pinging @ high boost & you don't get out of the throttle in time.
As far as your turbo feed set-up, usually a turbo w/journal plain bearings (not ball bearings) you do not need a restricter hole. Some ball bearing turbos like Turbonetics do not require a fixed small orifice, but Douglas said on his Y2K Turbonetics turbo he needed one on his race car because the engine was injecting oil, he also was running a dry sump system that pumped high volumes of oil also. So not so sure about that one??
Other BB turbos require a fixed orifice. I think it depends also on your oil system, stock or high volume high pressure oil system.
You could ask the Co. you bought the turbo from what they recommend. Now for the turbo oil return/drain line, you need the return fitting in the oil pan above the level in the pan.
you want the return line angled down (from the turbo down to the pan) w/no loops or kinks. You want it to be a good sized tube or hose for the return.