if you're allowed to swap, I'd put in a b18b or b20z. Plenty of low end and mid range. Don't worry about not having the tools... You only *need* hand tools (ratchet set, basically) and if you don't own that, you should buy one because you'll need it about a gajillion times in the future. As for engine hoists, they can be rented for $20-$40.
I don't think you're going make any serious alterations to your d16y8's powerband without FI or nitrous. :happysad: